Tax season is right around the corner. As a new homeowner or buyer, you may wonder what the tax season is right around the corner. As a new homeowner or buyer, you may wonder what the tax benefits of owning a home are. Hi, I'm Beth Tamminga with eXp Realty. There are several tax breaks to be aware of when you file your taxes as a homeowner. So, let's break down some of them. Obviously, be sure to verify all of my suggestions with your tax advisor.

#1 Mortgage interest - The ability to deduct mortgage interest is a significant benefit of owning a home. Mortgage interest is the interest charged on a loan used to purchase a home.

#2 Property Taxes - As a homeowner, you will pay property taxes on a state and local level but most likely you can take a property tax deduction on your taxes. This deduction can be very valuable depending on the location where you live. 

#3 Home Office - Post-pandemic, more homeowners are working from home. There can be some tax breaks for having an at-home office with your expenses.

#4 Energy-efficient upgrades - Many energy-efficient home improvements made to your home can qualify you for tax breaks. This includes energy-efficient appliances, solar, windows, and roofing.

Bottomline: owning a home can have many financial benefits when filing your taxes. It's best to consult with a tax professional to learn about all the help available to you and to make sure any of my suggestions can apply to you. If you are a buyer entering the housing market, a seller thinking to list, or would like some advice, feel free to reach out to me, and I can help you explore your options and find the perfect home. I'm Beth Tamminga with eXp Realty and remember, I'll lead you the way home!

Beth Tamminga

Realtor | eXp Realty

📲 Call/Text at (803)298-9381

💻 Email: tammingabeth@gmail.com

🌐 Website: http://elizabethtamminga.exprealty.com/