Mortgage Interest

  • After purchasing a home, interest payments on mortgages can be deducted

Property Taxes

  • All property taxes are deductible
    • Second home real estate taxes are also deductible

Home Sale Exemption

  • Last year home capital gains are not taxed if income is below threshold
    • $250,000 cap for a single person and $500,000 cap for a married couple

Private Mortgage Insurance (PMI)

  • If unable to make 30% down payment, lenders may require PMI
    • PMI is tax deductible if income is less than $100,00

Mortgage points

  • Points help drive down interest rates or help with origination fees
  • A point equals 1% of your loan amount or $1000 for every hundred thousand borrowed

Energy-Efficient Upgrades

  • Qualifying solar panels and water heaters receive a credit of 30%
  • Ceiling fans and other upgrades receive a $50 credit

Home Improvement Loan Interest

  • You can take out a home equity loans in order to get quick cash for home upgrades

Home Office Deduction

  • $5 can be taken for every square foot of office
    • Up to a maximum of 300 square feet

Mortgage Interest

  • After purchasing a home, interest payments on mortgages can be deducted

Property Taxes

  • All property taxes are deductible
    • Second home real estate taxes are also deductible

Home Sale Exemption

  • Last year home capital gains are not taxed if income is below threshold
    • $250,000 cap for a single person and $500,000 cap for a married couple

Private Mortgage Insurance (PMI)

  • If unable to make 30% down payment, lenders may require PMI
    • PMI is tax deductible if income is less than $100,00

Mortgage points

  • Points help drive down interest rates or help with origination fees
  • A point equals 1% of your loan amount or $1000 for every hundred thousand borrowed

Energy-Efficient Upgrades

  • Qualifying solar panels and water heaters receive a credit of 30%
  • Ceiling fans and other upgrades receive a $50 credit

Home Improvement Loan Interest

  • You can take out a home equity loans in order to get quick cash for home upgrades

Home Office Deduction

  • $5 can be taken for every square foot of office
    • Up to a maximum of 300 square feet

Get a personal consultation.

By entering your phone number and clicking the “Get Started” button, you provide your electronic signature and consent for Community Tax LLC or its service providers to contact you with information and offers at the phone number provided using an automated system, pre-recorded messages, and/or text messages. Consent is not required as a condition of purchase. Message and data rates may apply.

Related Reading

Mortgage Interest

  • After purchasing a home, interest payments on mortgages can be deducted

Property Taxes

  • All property taxes are deductible
    • Second home real estate taxes are also deductible

Home Sale Exemption

  • Last year home capital gains are not taxed if income is below threshold
    • $250,000 cap for a single person and $500,000 cap for a married couple

Private Mortgage Insurance (PMI)

  • If unable to make 30% down payment, lenders may require PMI
    • PMI is tax deductible if income is less than $100,00

Mortgage points

  • Points help drive down interest rates or help with origination fees
  • A point equals 1% of your loan amount or $1000 for every hundred thousand borrowed

Energy-Efficient Upgrades

  • Qualifying solar panels and water heaters receive a credit of 30%
  • Ceiling fans and other upgrades receive a $50 credit

Home Improvement Loan Interest

  • You can take out a home equity loans in order to get quick cash for home upgrades

Home Office Deduction

  • $5 can be taken for every square foot of office
    • Up to a maximum of 300 square feet

Mortgage Interest

  • After purchasing a home, interest payments on mortgages can be deducted

Property Taxes

  • All property taxes are deductible
    • Second home real estate taxes are also deductible

Home Sale Exemption

  • Last year home capital gains are not taxed if income is below threshold
    • $250,000 cap for a single person and $500,000 cap for a married couple

Private Mortgage Insurance (PMI)

  • If unable to make 30% down payment, lenders may require PMI
    • PMI is tax deductible if income is less than $100,00

Mortgage points

  • Points help drive down interest rates or help with origination fees
  • A point equals 1% of your loan amount or $1000 for every hundred thousand borrowed

Energy-Efficient Upgrades

  • Qualifying solar panels and water heaters receive a credit of 30%
  • Ceiling fans and other upgrades receive a $50 credit

Home Improvement Loan Interest

  • You can take out a home equity loans in order to get quick cash for home upgrades

Home Office Deduction

  • $5 can be taken for every square foot of office
    • Up to a maximum of 300 square feet

Get a personal consultation.

By entering your phone number and clicking the “Get Started” button, you provide your electronic signature and consent for Community Tax LLC or its service providers to contact you with information and offers at the phone number provided using an automated system, pre-recorded messages, and/or text messages. Consent is not required as a condition of purchase. Message and data rates may apply.