Expert Insights: Are Property Taxes Deductible?
Yes. Like the mortgage interest paid on a home loan, property taxes are fully deductible from your income. You may deduct them every year on your primary residence, second home and other investment properties. However, escrow money held for property taxes cannot be...
Expert Insights: How Are Individual Tax Bills Figured?
Unlike the income tax and the sales tax you pay, the property tax is not based on how much money you earn or how much you spend. It is based solely on how much the property you own is worth. The real property tax is an ad valorem tax, or a tax based on the value of...
Expert Insights: Why Do Homeowners Have to Pay Property Taxes?
Property taxes are assessed by city and county governments to generate the bulk of their operating revenues. The taxes help pay for such public services as schools, libraries, roads and police protection. Re-valuations of the tax are often done periodically, although...
Expert Insights: Are Upfront Fees and Closing Costs Deductible?
Many of the costs paid at closing are not immediately deductible. The exception is points you pay to purchase your home loan. They are deductible for that year. Points paid when you refinance an existing mortgage must be deducted over the life of the new loan. Some...
Expert Insights: How Can Owning a Home Pay Off at Tax Time?
A home provides many tax benefits, literally from the time you buy to the time you sell. The mortgage interest paid on a home loan up to $750,000 for a primary residence or second home is tax deductible every year, as is the local property tax. Other mortgage...
Strategies to Boost Your Content’s Visibility
What’s the point of having a social media game plan if your content isn’t getting in front of the right people? Here are a few ways to improve your brand’s visibility and reach on social media.
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