Every homeowner (we hope!) knows about the mortgage interest deduction, but there are other tax breaks for owning a home. Can you deduct discount points? Local property taxes? Home-office additions?
You might want to check out this post from Dan Green, and maybe do a quick refresher on taxes for homeowners. It’s a great reason to reach out to clients: “Don’t forget to ask your tax preparer about the points you put down!”
Click here if you didn’t realize that was a link to Green’s article up there.
There are a lot of incentives out there, especially for going green — there are tax breaks for adding things like efficient wood stoves, geothermal heating and cooling, and more. Click here to see what they are, courtesy of the EPA.