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Featured Issue: Big Tax Breaks Benefit Homeowners
Uncle Sam's tax code authors smile benevolently on homeowners at tax time. Homeowners enjoy some of the sweetest tax breaks offered by the Internal Revenue Service (IRS), so make it a point to educate yourself over the course of the year and prepare to optimize every possible deduction and exemption.
Be sure you meet the following qualifications, before you start taking wholesale deductions. There ARE a few limitations or restrictions that apply under certain circumstances. When in doubt, consult with an experienced, reputable professional.
Here's a rundown of the qualifications.
If you meet the qualifications, next there's the impressive list of exactly what can be deducted. There are a few limitations, but understanding them isn't overly complex.
Finally, start planning NOW for the benefits you'll realize when you sell.
The tax benefits of owning a home far outweigh the additional time it takes each year to file your tax return. So, take advantage of all of the available deductions and exemptions, make use of the resources we've provided, plan ahead, and protect your investment by becoming an ever more informed and effective homeowner.
Smart homeowners plan ahead for the tax breaks they'll realize when they sell. Part of that is appreciating the future value of certain types of improvements, and a little bit of old-fashioned, low-tech record-keeping, when remodeling or making other home improvements. More . . .
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This is your required reading list for maximizing the tax benefits of homeownership. More . . .
Before taking wholesale deductions, make sure you meet certain homeowner qualifications. More . . .
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Once you meet the qualifications, there's a list of exactly what can be deducted. More . . .