Thursday, April 24, 2014

How Homeowners Save Money on Taxes

Do you own a home? If so, know that you can “catch a break” in a variety of ways when it comes to your taxes. The best way to learn about all of the different tax breaks available to you and to take full advantage of them is to seek the help of a knowledgeable accounting firm in your area.

When you visit that accounting firm, you will likely learn about several different types of tax breaks, including the much-loved mortgage interest deduction. You can claim this deduction on up to two homes as long as
your mortgage loan is not for more than a million dollars. All you have to do is itemize your return, and you’re good to go!

While the mortgage interest deduction is a popular way for homeowners to save money, it’s certainly not the only way for them to do so! To learn about other ways in which you can save big, contact Susan S. Lewis, Ltd., an accounting firm in Naperville, today.