Your Home: A Powerful Tax Advantage

Copyright © 2006-2009 Vasrue.com, All Rights Reserved
Written by: Mark Felder

Afraid of the big commitment? Home ownership is always an excellent investment offering discounts every year and guaranteed retirement savings. It can be one of the best investments anyone can make. Buying your principle residence is the only way you can ensure a rent- or mortgage-free lifestyle in 15- to 30-years. So you can retire in style. Passed down, property gives every generation to follow a much greater advantage.

Plus, the Internal Revenue Service offers incentives on real estate purchases to propel the American dream. Who wouldn't like a break from Uncle Sam now and then? These write-offs and deductions can bring your seemingly high original mortgage payment down to lower, more comparable payments to renting. Plus, if you get a fixed-rate mortgage loan, your payments stay the same forever. So in ten years, when renters are paying 30 to 50 percent more in monthly payments, you'll be pocketing that money.

Initially, the IRS gives taxpayers a break the year you purchase your home. Keep all of your settlement records during your purchase transaction. At year-end, you can deduct home interest, certain real estate taxes and points representing interest as long as you itemize. Home builders may pay these costs when purchasing the actual land or settling the mortgage. Real estate taxes are allocated between both homeowners that year. So you can deduct the portion of taxes paid by you during the months of ownership. Therefore, its most tax advantageous to purchase a home in December or January, so you can claim the full year.

Next, the IRS gives taxpayers ongoing financial advantages. At year-end, homeowners can deduct their interest, which is generally the bulk of each month's payment at the outset, on your mortgage, home equity loan or line of credit. You can also deduct your property taxes, another large expense.

So if you still think renting beats ownership, do your math. It might be time to reconsider.

About The Author:

Copyright (c) 2008 http://www.Vasrue.com, All Rights Reserved.

Mark Felder writes about Real-Estate for the Vasrue website. Articles are published weekly on Travel, Personal Finance, E-business, Credit and a host of other great topics. All Vasrue articles are available to other webmasters through RSS feeds. Visit the Vasrue.com website often, to learn something new.

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Your Home: A Powerful Tax Advantage 
Copyright © 2006-2009 Vasrue.com, All Rights Reserved 
Written by: Mark Felder

Afraid of the big commitment? Home ownership is always an excellent investment offering discounts every year and guaranteed retirement savings. It can be one of the best investments anyone can make. Buying your principle residence is the only way you can ensure a rent- or mortgage-free lifestyle in 15- to 30-years. So you can retire in style. Passed down, property gives every generation to follow a much greater advantage.

Plus, the Internal Revenue Service offers incentives on real estate purchases to propel the American dream. Who wouldn't like a break from Uncle Sam now and then? These write-offs and deductions can bring your seemingly high original mortgage payment down to lower, more comparable payments to renting. Plus, if you get a fixed-rate mortgage loan, your payments stay the same forever. So in ten years, when renters are paying 30 to 50 percent more in monthly payments, you'll be pocketing that money.

Initially, the IRS gives taxpayers a break the year you purchase your home. Keep all of your settlement records during your purchase transaction. At year-end, you can deduct home interest, certain real estate taxes and points representing interest as long as you itemize. Home builders may pay these costs when purchasing the actual land or settling the mortgage. Real estate taxes are allocated between both homeowners that year. So you can deduct the portion of taxes paid by you during the months of ownership. Therefore, its most tax advantageous to purchase a home in December or January, so you can claim the full year.

Next, the IRS gives taxpayers ongoing financial advantages. At year-end, homeowners can deduct their interest, which is generally the bulk of each month's payment at the outset, on your mortgage, home equity loan or line of credit. You can also deduct your property taxes, another large expense.

So if you still think renting beats ownership, do your math. It might be time to reconsider.

About The Author:

Mark Felder writes about <a href=http://articles.vasrue.com/realestate.php target=_blank>Real-Estate</a> for the Vasrue website. Articles are published weekly on Travel, <a href=http://articles.vasrue.com/finance.php target=_blank>Personal Finance</a>, E-business, Credit and a host of other great topics. All Vasrue articles are available to other webmasters through RSS feeds. Visit the Vasrue.com website often, to learn something new.

Read more articles written by: <a href="http://www.thephantomwriters.com/recent/author/mark-felder.html" target="_blank">Mark Felder</a>

TEXT Article Copy-And-Paste

Your Home: A Powerful Tax Advantage
Copyright © 2006-2009 Vasrue.com, All Rights Reserved
Written by: Mark Felder

Afraid of the big commitment? Home ownership is always an
excellent investment offering discounts every year and guaranteed
retirement savings. It can be one of the best investments anyone
can make. Buying your principle residence is the only way you can
ensure a rent- or mortgage-free lifestyle in 15- to 30-years. So
you can retire in style. Passed down, property gives every
generation to follow a much greater advantage.

Plus, the Internal Revenue Service offers incentives on real
estate purchases to propel the American dream. Who wouldn't like
a break from Uncle Sam now and then? These write-offs and
deductions can bring your seemingly high original mortgage
payment down to lower, more comparable payments to renting. Plus,
if you get a fixed-rate mortgage loan, your payments stay the
same forever. So in ten years, when renters are paying 30 to 50
percent more in monthly payments, you'll be pocketing that
money.

Initially, the IRS gives taxpayers a break the year you purchase
your home. Keep all of your settlement records during your
purchase transaction. At year-end, you can deduct home interest,
certain real estate taxes and points representing interest as
long as you itemize. Home builders may pay these costs when
purchasing the actual land or settling the mortgage. Real estate
taxes are allocated between both homeowners that year. So you can
deduct the portion of taxes paid by you during the months of
ownership. Therefore, its most tax advantageous to purchase a
home in December or January, so you can claim the full year.

Next, the IRS gives taxpayers ongoing financial advantages. At
year-end, homeowners can deduct their interest, which is
generally the bulk of each month's payment at the outset, on
your mortgage, home equity loan or line of credit. You can also
deduct your property taxes, another large expense.

So if you still think renting beats ownership, do your math. It
might be time to reconsider.

============================================================
Copyright (c) 2008 http://www.Vasrue.com, All Rights Reserved.

Mark Felder writes about Real-Estate for the Vasrue website.
Articles are published weekly on Travel, Personal Finance, 
E-business, Credit and a host of other great topics. All 
Vasrue articles are available to other webmasters through 
RSS feeds. Visit the Vasrue.com website often, to learn 
something new at: http://articles.vasrue.com/ ============================================================

Read More Articles From Mark Felder:
http://www.thephantomwriters.com/recent/author/mark-felder.html

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