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What You Should Know About Owning a Home Before Tax Season

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What You Should Know About Owning a Home Before Tax Season

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What your accountant wishes you knew in South Florida!

In a recent article written by Jamie Wiebe for REALTOR.com®, Wiebe points out some interesting bits of information about what your accountant wishes you knew about owning a home before tax season.

“What’s not to love about tax season? The chill you get when you realize you owe the IRS thousands, the fear that you may be getting a bit too aggressive on your deductions, the fleeting hope you’re due for a big return … that’s dashed when you end up with $2…” states, Wiebe.>/p>

Wiebe points out:

  • Having a home office does not automatically trigger an audit.
  • Few things scare the pants off taxpayers (or accountants, for that matter) like the threat of an audit.
  • Moving is an overlooked money saver.
  • Another easy tax break that homeowners often toss out the window is the cost of a job-related move.
  • Selling a home too quickly comes at a price.
  • Selling a house comes with its own set of pitfalls—especially if you’re doing so less than two years after purchase.
  • Deducting your mortgage interest is really worth it.
  • Odds are you’ve heard that you can deduct the interest you pay on your mortgage from your taxes. And maybe you’ve thought, “Why bother? My interest is only 4%, which is a measly amount to deduct.”
  • Home improvementscan lower your tax bill, too.
  • If you’ve made any significant renovations to your home in the past year—or plan to begin a new construction project—make sure to keep an eye on any energy-efficient upgrades you make.”

For more insights behind each point, read the entire article by clicking here.

In order to make good use of Wiebe’s advice make sure to contact your local Water Pointe Realty Group’s REALTOR®. We have a proven track record selling real estate throughout Palm Beach County and the Treasure Coast. We listen carefully to understand your needs and guide you through the entire process of selling your property from listing to sale.

Visit our Home Seller’s page to find out some great information about:

Hence we ask our readers, do you have any other tips or do you have a testimonial to share? Please post a comment on our blog. Considering the sale of your home? Get expert advice from our professional realtors, now!

We here at Water Pointe Realty Group just love to share interesting information, and to assist prospective new residents in discovering that being a Floridian is a unique lifestyle. We do our best to communicate with our past, present, and future clients from Stuart, Hobe Sound, Tequesta, and our Jupiter waterfront homeowners. Please make sure to visit our Home Sellers Marketing Plan page for some valuable information about the first steps to becoming a satisfied client with Water Pointe Realty Group.

Whether you own, or are interested in purchasing Jupiter Florida Real Estate, Stuart Florida Real Estate, or any South Florida Real Estate, Water Pointe Realty Group is here to assist. Our knowledgeable, professional, and personable staff is readily available via traditional communication methods as well as all social media networks. Become a fan of Water Pointe Realty Group on Facebook® today! Subscribe to our newsletter here. Our team of highly dedicated, real estate brokers, agents, and Realtors® are extensively skilled and always strive to offer you a real estate experience that will not only meet, but exceed your highest expectations. The Water Pointe Realty Group team knows St. Lucie, Martin, and Palm Beach counties like no one else; and can provide you with the resources to help you make informed and educated decisions. With a team approach, this group of real estate experts are sure to provide you with outstanding service. Your access to homes for sale in Jupiter, homes for sale in Stuart, and waterfront homes is really only a click away! Water Pointe Realty Group, representing the finest properties….from inlet to inlet.

Soon, you too, could say, #thisisthelife

Article by: Jeannie M. Ferrara

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