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The Tax Deductions From Homeownership

Houses made out of cashIf you bought a house or owned in house in 2013, there may be more deductions than you knew about.

For itemized deductions, most people know that you can deduct the interest you pay on your mortgage. Here’s a list more deductions you may be able to take as well.

  • Property Taxes
  • Home Improvements that are done for medical reasons such as accessibility features.
  • Insurance premiums for private mortgages
  • Home equity loan interest

There are many other deductions that relate to home ownership like improving energy efficiency or using part of your house exclusively for your business. We’re here to help you take full advantage of all the tax breaks home ownership affords you. Give us a call today!

Do you have the support you need to manage your small business bookkeeping? Contact us to schedule an appointment to speak with a local small business advisor.

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