HOME OWNERSHIP BRINGS A NUMBER OF TAX ADVANTAGES! EXAMPLES:
Mortgage interest tax deduction.
For many homeowners, this represents a significant deduction, particularly in the early years of a loan
when interest makes up a larger portion of the payment.
Property tax
deduction.
Your house payment includes a property tax escrow. A typical
annual deduction ranges from $2,000-$4,000.00, depending on the house and the community tax rate.
Property tax payments are deductable.
Energy Efficiency Tax
Credit.
Energy efficiency improvements lower your monthly utility bills.
Currently, the IRS offers a $1500.00 energy tax credit for qualifying improvements.
In
many cases, New Beginning Homes can provide financing for your energy improvement project.
You should always consult with your own tax advisor.
