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Income Tax Savings
Because of income tax deductions, the government is essentially subsidizing the purchase of your home. All of the property taxes and interest you pay in a given year can be deducted from your gross income to reduce your taxable income.
Example, assume you're paying 8% interest on your initial loan balance of $150,000. You would pay $9969.27 in interest for the year. If you pay 12 payments during that year, your taxable income would be almost $10,000 less because of the IRS interest deduction.
Property taxes are also deductible. You are allowed to deduct the amount of property taxes that you pay in a given year, lowering your tax obligation.
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Las Vegas Real EstateThe Best Bet in Town . . .Especially Now! Brenda Caruso, ABR, CRS, REALTOR Universal Realty 2490 Paseo Verde Pkwy, Suite 115 Henderson, NV 89074 702-219-9127 Direct Email: Brenda@lasvegasrealestate-homes.comFirst Class Service - Uncompromising Ethics! Las Vegas Realtors Las Vegas Real Estate Henderson Nevada Real Estate Las Vegas Homes Living in Las Vegas Retirement in Las Vegas Las Vegas Home Searcheslasvegasrealestate-homes.com site map© 1998-2011 Sharon Durdel - All rights reserved Copyright infringement is a serious offense
Las Vegas Real EstateThe Best Bet in Town . . .Especially Now!
Brenda Caruso, ABR, CRS, REALTOR
Universal Realty
2490 Paseo Verde Pkwy, Suite 115
Henderson, NV 89074
702-219-9127 Direct
Email: Brenda@lasvegasrealestate-homes.comFirst Class Service - Uncompromising Ethics! Las Vegas Realtors Las Vegas Real Estate Henderson Nevada Real Estate Las Vegas Homes Living in Las Vegas Retirement in Las Vegas Las Vegas Home Searcheslasvegasrealestate-homes.com site map© 1998-2011 Sharon Durdel - All rights reserved Copyright infringement is a serious offense