With tax season approaching, Trulia Tips has a story about real estate tax breaks you don’t want to miss:
The first step is to make sure you’re not actually missing any tax deductions and breaks you already qualify for. The tax code is 4 million words and over 70,000 pages long, but most Americans tap into fewer than 15 pages of it when filing their returns.
In the full story they go on to explain the 3 breaks you shouln’t miss in full detail, but here is the basic list:
1. State and Local Tax Breaks for Green Home Improvements.
2. Mortgage Interest Tax Break.
3. CODI Income Tax Exemptions.
You can learn more about how to make sure you don’t miss out on these tax breaks by reading the full story here.