Austin Real Estate Update

Did you know that home-related tax deductions include mortgage interest, real-estate taxes, home improvements, and more? Are you taking advantage of them all?

There is a lot to know if you are not a CPA, IRS agent or qualified real estate professional. Let us help you clarify all this information and show you some options to make sense of this jumble of tax related issues and save money.

Did you know that as a homeowner you can save money by taking advantage of federal tax deductions designed to promote homeownership? We encourage you to examine the exemptions carefully to ensure that you're getting the most benefit from your home? After all, who doesn’t like having more money?

Here are some Initial questions to consider that may reduce the amount of income tax you pay to the IRS.

· Do you do itemized personal deductions?

· What type of property do you have and how this relates to taxes?

· How did you receive your home: purchase, inheritance, or settlement?

· Was your home used as collateral on a mortgage?

For more information about this and other questions about real estate, give us a call so we can help you explore the best options for you. we can also recomment a good tax professional or CPA.