3 Tax Breaks Homeowners Shouldn’t Forget » Mortgage Masters Group

Make sure to take advantage of these 10 overlooked tax breaks. Don’t let the IRS keep too much of your money. Little expenses can add up and may be tax deductible.

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The biggest homeowner tax break for most people is the mortgage interest deduction, taken on Schedule A, Form 1040. You can generally deduct the interest portion of your monthly mortgage payment with your other itemized deductions. mortgage interest is generally interest on any loan that is secured by your home or second home.

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4 Real Estate-Related Tax Deductions You Shouldn't Overlook. Mortgage interest, property taxes and mortgage insurance premiums are just.

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 · 4 Business insurance leads to tax breaks. Don’t forget to write off any insurance costs that you have for your business. If you use a home office, then a portion of your house’s insurance.

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Tax Breaks for Homeowners. Buying gives a great feeling of starting a new chapter in life, of having "arrived." But make no mistake, owning a home is a huge financial responsibility, probably the biggest you’ll ever have. Besides the mortgage payments, there’s insurance, property taxes, maintenance costs, the list goes on.

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