As tax time approaches, the last thing you want to do is make a misstep – Erik Sherman writes for houselogic on the top 6 mistakes homeowners make when filing taxes.
Tax time isn’t typically a time most of us look forward to, but as adults, we dutifully gather our documents and do the deed we’ve been called to do. If you’re a new homeowner, you could be looking at a new tax break in the form of a mortgage interest deduction.
It may be a bit soon in your book to start talking about taxes - but each year, some tax breaks for home buyers and sellers expire.
While we’re not quite there yet, winter is on its way, and the holiday season is upon us. It’s definitely not the most popular time to buy a new home, but you could be missing out if you don’t.
If you have a home office you work out of regularly, you probably enjoy a lot of perks: an extremely short commute, conference calls in your PJs, free reign with your "office" decor. But if you’re not claiming deductions, you could be missing out on one of the finer perks of calling your home an office.
If you’re buying a home or looking to make some energy efficient upgrades (which we’ve mentioned earlier this week as being one way to save big on your taxes) take extra consideration when investing in a water heater.
With taxes still on your mind, it’s never too early to consider how to lower your tax bill for next year. If you’ve got plans to renovate your home or even buy a home that you intend to make improvements to, you could have tax deductions or credits in your future!