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By Baker, Wayne & Associates | Broker in Wilmington, NC
  • TAME YOUR TAXES | Give yourself a break | Wilmington NC real estate

    Posted Under: Home Buying in Wilmington, In My Neighborhood in Wilmington, Rent vs Buy in Wilmington  |  January 30, 2012 8:31 AM  |  574 views  |  No comments

    Homeowner Tax Breaks Help Preserve Your Wealth

    In these challenging economic times, every penny counts. As a homeowner, you'll want to ensure you take all the tax deductions you're entitled to on your 2011 return -- which could keep a lot of money in your own pocket.

    Whether you are a current or former homeowner, you'll find this Special Tax Issue of our newsletter offers valuable information you can use to minimize your taxes. And if you're thinking about buying, you'll get a preview of the kinds of tax breaks you could see next year as a homeowner.

    Unfortunately, some Americans lost their homes last year due to foreclosure, while others were forced to sell at a loss in order to avoid foreclosure. If you are among them -- or know someone who is -- completing a 2011 return could be more complicated than usual, but you may still qualify for some money-saving tax breaks.

    Although we cannot provide comprehensive information for every homeowner's unique situation, this newsletter outlines many of the major home-related federal tax rules that you'll need to know when completing your 2011 return. For Newsletter click here....

    Be sure to consult a tax professional about any questions you have or call the Internal Revenue Service directly using their toll-free tax-assistance line: (800) 829-1040. (Calling early in the tax season will reduce your wait time.) You can also find a wealth of information online -- including publications, forms and worksheets -- at www.IRS.gov.

    If you have recently purchased a home, make sure you have your HUD so that you can take your deductions for purchasing a home. 

    If you would like to learn more about how owning a home can help your bottom line, just give us a call, text or email and we would be happy to help. Please visit www.cbbaker.com for buying tips.

    910-232-0363 or kaybaker@seacoastrealty.com

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