Found 1 blog entry tagged as tax deductions.

AUSTIN, TX. -  Tax season is here and with April 15th just under one month away it’s important for every homeowner to make sure that they take advantage of all of the tax breaks available to them.

In this article, we will provide you with a list of tax breaks that you can tax advantage of when you file your taxes.

Mortgage interest

This is the big kahuna: All of the interest you pay on your mortgage is tax-deductible for loans up to $1 million, says Mark Jaeger of TaxAct. You do have to itemize deductions to take it, but it’s almost always worth it, especially with a new loan. Most mortgages are structured so that you pay the interest first. So if you have a $300,000 fixed rate 30-year loan at 4% interest, in your first year, you’d be…

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