{"id":826,"date":"2013-03-20T14:54:09","date_gmt":"2013-03-20T14:54:09","guid":{"rendered":"http:\/\/riverbankfinance.com\/blog\/?p=826"},"modified":"2013-09-06T18:11:43","modified_gmt":"2013-09-06T18:11:43","slug":"tax-benefits-of-owning-a-home-and-having-a-mortgage","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/tax-benefits-of-owning-a-home-and-having-a-mortgage\/","title":{"rendered":"OWNING YOUR OWN HOME AND THE ITS TAX BENEFITS"},"content":{"rendered":"

\"Tax<\/a>It seems like every year tax season sneaks up on us all.\u00a0 This may be a blessing for some but a huge burden to others.\u00a0 Regardless of where you sit come tax time one thing is for certain those homeowners who own homes will receive a tax break.\u00a0 All of our situations are different so please consult a tax professional to figure out your own tax burdens and gains.<\/p>\n

READY TO BUY YOUR FIRST HOME READ: First Time Home Buyer Programs<\/a><\/p>\n

Mortgage Interest tax deductions:<\/strong><\/p>\n

One of the huge advantages of own your home is you are able to write off the accumulated interest you paid on your home mortgage for that year.\u00a0 This interest is tax deductible which really helps save come tax time.\u00a0 This can provide many a huge tax break and can mean the difference in paying or receiving during the tax season.\u00a0 Even if you have two loans against your house you may still be able to be deduct your interest paid (please consult with tax advisor).<\/p>\n

Mortgage Costs Tax Deductions<\/strong><\/p>\n

If you have recetly bought a house some of the closing costs may also be tax deductible.\u00a0 Discount points paid as a result of a new mortgage are tax deductible.\u00a0 It is common for somebody to pay discount points in connection to a refinance or purchase so they can receive a lower then normal or market interest rate for their loan.\u00a0 There are many reasons why a homeowner would pay discount points.\u00a0 You have to do the math to make sure it makes sense for you<\/p>\n

Other Home Tax Deductions<\/strong><\/p>\n

The property taxes one pays through the year to their assessor are also deductible.\u00a0 This is nice because as they go up you get a bigger tax deduction.\u00a0 Some other tax deduction associated with the house are home improvements that you made and for your home office.<\/p>\n

Homeowners: Take advantage of these deductions<\/strong><\/p>\n

If you are a homeowner and want to know more on these tax deductions you can claim please talk to your tax expert.\u00a0 If you would like to refinance or buy a new home please call us at 800-555-2098 today!<\/p>\n","protected":false},"excerpt":{"rendered":"

It seems like every year tax season sneaks up on us all.\u00a0 This may be a blessing for some but a huge burden to others.\u00a0 Regardless of where you sit come tax time one thing is for certain those homeowners who own homes will receive a tax break.\u00a0 All of our situations are different so… Read more »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[301,70,308],"tags":[380,379,378,324],"class_list":["post-826","post","type-post","status-publish","format-standard","hentry","category-buying-a-home","category-first-time-home-buyer","category-mortgage-tips","tag-homeowner-tax-deductions","tag-mortgage-interest-deduction","tag-tax-benefits","tag-tax-savings"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/comments?post=826"}],"version-history":[{"count":9,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/826\/revisions"}],"predecessor-version":[{"id":1083,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/826\/revisions\/1083"}],"wp:attachment":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/media?parent=826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/categories?post=826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/tags?post=826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}