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Buying Your Las Vegas Home
Income Tax Savings

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Buying your home can be one of the largest investments in your life. Not only are you choosing your home, and the place in which you will raise your family and make many memories, you are most likely investing a very large portion of your assets. The more prepared you are when you start looking at homes, the less overwhelming and chaotic the buying process will be for you. There is a lot of important information for you right here, but as we progress, we will provide you with more detailed information to assist you in making an intelligent and informed decision. Remember, if you have any questions at all, we're  only a phone call or email away!  

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Buying Your Las Vegas Home

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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