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OF YOUR HOME OVER THE PHONE! As real estate professionals we strive to create a level of comfort for all our clients that lasts beyond the end of each transaction. We feel strongly that the purchase or sale of a home is more than just "business", it's about establishing lasting relationships. We're extremely passionate about building our reputation around the virtues of service and hard work. We've built the foundation of our business on a pride that comes from seeing a client realize their dream of owning the perfect home. We truly believe in handling the needs of every client with the utmost importance and urgency while protecting their best interest from start to finish. As a client, you can look forward to world class service and representation in one of the largest investments of your life.... your home! We look forward to helping you accomplish all your real estate goals.
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Tax Considerations >Tax Breaks
Most homeowners are keenly aware of the interest tax deduction on their home loan, but there are many other tax breaks which are often overlooked at income tax time. Pro-rated property taxes and mortgage interest in the year of sale are deductible. You will find these amounts listed on your closing settlement statement. If you paid off your mortgage and had to pay a pre-payment penalty, it qualifies as tax deductible interest. If you paid an "acquisition mortgage loan fee" on a home loan, this fee can be deducted as itemized interest. Home improvement loan fees are also deductible. Any remaining loan fees from re-financed or paid-off mortgages are fully deductible at the time of the mortgage payoff.
Certain items don't qualify as deductions, but can be added to the cost basis of your home, such as transfer taxes, recording and title fees, and special local property tax assessments for new sidewalks, streets, or sewers.
Don't be intimidated by the tax code! A little research or consultation with an expert can help you maximize your real estate tax advantages.
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| Q |
Where is the world's oldest castle located?
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| A |
The castle at Gomdan, Yemon, dating from before A.D. 100, is considered the oldest castle; it originally had 20 stories. |
 See More Real Estate Trivia > |
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