How to Make Your Home Work for You at Tax Time
Posted by Judy Orr on
This probably should have been posted sooner because the tax deadline is about a week away and most of you have filed already. This might help renters decide to get into homeownership in the near future if they've been sitting on the fence.
When people think about owning a home, they often focus on the costs—mortgage payments, repairs, insurance, and property taxes. But what many homeowners don’t realize is that their house can actually help them save money at tax time. Tax laws allow homeowners to deduct certain expenses, claim credits, and lower their overall tax bill—sometimes by thousands of dollars.
A lot of people assume that owning a home is more expensive than renting, especially when they look at the monthly mortgage payment. But what…
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