Owning a home can come with a large price tag, but thankfully, there are tax deductions that can make the costs of home ownership a little more affordable. For taxpayers who itemize their deductions, both mortgage interest and property taxes can be deducted. (Please note, however, that those subject to the AMT [alternative minimum tax] are often ineligible for these deductions.) For many people, mortgage interest and real estate taxes add up to thousands of dollars every year, so these deductions can amount to a major tax break.
Wondering whether you can deduct your mortgage interest or property taxes this year? Taxation Solutions, Inc. can help you determine the answer. Providing more than 40 years of professional assistance preventing and resolving tax problems, we can put our expertise to work to help you sort out deductions related to your home. Serving the Atlanta area and beyond, we are committed to helping you understand the best ways to minimize your tax liabilities.