One of the many perks of home ownership is big tax breaks. So whether you’re doing your taxes yourself or getting help from a professional, it’s important to take advantage of those breaks!
Mortgage Interest Deduction:Before buying a home, a standard deduction may have made the most sense when you prepared your taxes. But homeowners can deduct the interest portion of their mortgage payments, and the earlier you are in your mortgage, the greater the percentage of each payment that goes toward interest, so take advantage right away!
Home Office:There are specific criteria that have to be met in order to deduct home office expenses, but it can lead to a very large deduction. In general, your home office has to be used specifically for business purposes. Check with a tax professional to see if your home office qualifies for a deduction—it’s a little extra work, but can make a big difference in your tax responsibility.
About Colleen K. Cotter - mySanDiegoAgent Realty Group
The mySanDiegoAgent Realty Group provides professional real estate consultation in the areas of residential, income properties, luxury rentals, short sales, first time home Buyers, real estate for senior citizens, real estate issues related to divorce, military and corporate relocation. We are experts in downtown San Diego and coastal properties especially Coronado, Encinitas and Point Loma, downtown lofts and condos, urban planning and sports team seasonal placements.
We all want to enhance our neighborhoods. Chris Cate, Councilmem
"We are very pleased with the high quality of service, dedication and professionalism that Philip Crocker provided us during our recent home purchase in North Park. We would highly recommend him to anyone."