February 21, 2011

Tax Benefits to Home Ownership!

Posted to Jeremy Page

One of the important benefits to home ownership is the tax benefits from the Federal and State or local governments. One of the benefits to home ownership is the home mortgage interest deduction. This is especially beneficial in the early years on a typical loan because much of the payments early on are interest. The property tax deduction also allows homeowners to deduct the state and local property taxes they pay from their federal income taxes. Perhaps one of the most valuable tax benefit is the $250,000/$500,000 home sale exclusion. This allows a home owner to sell their home for a profit but not have to pay income tax if they have lived in their home for two years of the prior five years before the sale.

I am not a tax professional, so you need to consult your tax adviser for more specifics on these tax deductions. However, I am a real estate professional here in the great Indianapolis area. I specialize in Boone, Hamilton, Hendricks and parts of Marion Counties. For more information how you could become a homeowner call or text me at 317-413-5311 or email me at . Also, if you are in need of a tax professional let me know. I have a guy I work with who has extensive knowledge of the tax code and the tax benefits to owning a home!

Posted by:  Jeremy Page

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