© 2006 MILLEREALTY. All Rights Reserved.
[mailto:jim@millerealty.com]
Nash Realty P.O. Box 1670 Meredith, NH 03253 Phone: (603) 279-6565 ext. 303 Fax   : (603) 279-6567
[mailto:jim@millerealty.com]
(603) 455-8600 jim@millerealty.com www.millerealty.com
Working Together - A Winning Combination
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SEARCH ALL MLS LISTINGS New Hampshire, Maine, Vermont
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[http://www.mortgage101.com/partner-scripts/Calculators/TaxBenefits.asp?p=173308]
[http://www.mortgage101.com/partner-scripts/Calculators/TaxBenefits.asp?p=173308]
Tax Benefits - CALCULATOR
JIM MILLER, Realtor
[http://www.irs.gov/publications/p530/ar02.html#d0e298]
One of the biggest advantages of owning your own home is that the IRS allows you to deduct certain costs associated with home ownership. The primary costs that may be deducted at tax time are the interest paid on your mortgage and real estate taxes on your home. Without these deductions many people do not have enough deductions to exceed the standard deduction that is automatically allowed when filling out your tax return. If you are renting you are paying these expenses for your landlord but you are not allowed to deduct them. Once you become an owner you can take advantage of these deductions. In fact you can estimate how your taxes will be impacted by the new deductions and if significant enough you may increase your withholding allowances and actually increase your net take home pay.
Buy a Home Give Yourself a Raise
[http://www.hud.gov/buying/index.cfm]
The following link will take you to the US Department of Housing and Urban Development (HUD) and a comprehensive guide to the home buying process. http://www.hud.gov/buying/index.cfm
Buying a Home A to Z
[http://www.irs.gov/publications/p936/ar02.html#d0e175]
[http://www.irs.gov/publications/p936/ar02.html#d0e175]
[http://www.irs.gov/publications/p530/ar02.html#d0e298]
[http://www.irs.gov/pub/irs-pdf/p587.pdf]
[http://www.irs.gov/pub/irs-pdf/p587.pdf]
For details on mortgage interest deductibility follow this link to the IRS site http://www.irs.gov/publications/p936/ar02.html#d0e175 For details on deducting real estate taxes follow this IRS link http://www.irs.gov/publications/p530/ar02.html#d0e298 Even greater tax advantages are possible if you operate a business out of your home. Expenses related to the portion of your home that is exclusively devoted to the business may be excluded from your business income. Follow this link for more details http://www.irs.gov/pub/irs-pdf/p587.pdf (It’s a 31 page pdf document so if you are using a dial-up connection it may take awhile)
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The Home of Lakes Region Real Estate
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SET CUSTOM CRITERIA and HAVE LISTINGS SENT DIRECTLY TO YOUR EMAIL Is my information secure? Yes. We do not provide any contact information to any third party companies. Your information is kept private and will never be shared. If I find a listing in my inbox that interests me, what do I do? You can contact me here or call me at (603) 455-8600.
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