Tax Breaks and Deductions for Owning a Home

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Remember to take advantage of the many tax deductions for owning a home. Linked below is one article that gives you 10 suggestions to speak with your tax accountant or research on your own.

The federal tax code has multiple breaks for homeowners that help home ownership. These tax deductions are also part of the reason it is better to own then rent. Some of the tax deductions listed:

1. Points on home mortgage and refinancing

2. Interest on home-improvement loan

3. Property tax

4. Residential energy-efficient tax credit

5. Renewable-energy tax credit

6. Ground rent

7. Income and interest on reverse mortgages

8. Private mortgage insurance

9. Home expenses and improvement

10. Buying a home

http://www.marketwatch.com/story/10-homeowner-tax-…