Fox Business lays out some important questions for homeowners to ask during tax season. As many of you know, owning a home leads to a bit of extra effort during tax time and this list of questions is sure to come in handy.
Author Gina Pogol tackles everything from the tax implications of buying or refinancing a home to whether or not the health care tax can have an effect on gains from property sales. She even addresses the tricky questions of whether or not you can deduct mortgage prepayment penalties and what expenses you may incur as a homeowner that you cannot deduct.
As with all smart financial planning, Pogol’s solutions are all about the details, proving once again that when it comes to personal finance and preparing your taxes, knowledge is power. If you’re looking for other tax solutions, check out this video from Fox Business. They touch on everything from the home buyer credit to the tax implications of your Roth IRA.
Will you get tax benefits from buying or selling a home this year? Are there other questions homeowners should ask themselves at tax season?