Showing posts with the label homeownership

10 Tax Benefits of Owning Real Estate

One of the reason's we love helping our clients expand their real estate assets is the tax benefits it provides to their families.  Let's be honest, no one loves paying taxes and in a day with inflation taking a portion of every dollar, having the opportunity to reduce, avoid or defer taxes is a huge benefit.  Good news owning real estate provides you a valuable opportunity to do just that!   Buying a home doesn't just provide shelter.. It is key asset to help you build financial security and help reduce your tax liability. Here are ten common tax benefits associated with owning real estate: ✨Mortgage Interest Deduction:  ✨Property Tax Deduction:  ✨Depreciation Deduction:  ✨1031 Exchange:  ✨Capital Gains Tax Exclusion: ✨Home Office Deduction: ✨Rental Loss Deduction:  ✨Tax-Free Exchange of Partnership Interests:  ✨Energy Efficiency Tax Credits:  ✨Real Estate Professional Tax Benefits: Here is a bonus one you may not be aware of,  is to eliminate/defer capital gains is throug

Why is there a Month for Homeowners?

Did you know June is recognized as Homeownership Month.   Do you remember that feeling when you bought your first home, or are you dreaming of such.   There is no doubt homownership offers an array of benefits both tangible and intangible.  It that why it called the American Dream!  Below is a quick look at some facts that about the benefits of Homeownership. • 86 percent of current renters want to own a home in the future. • Homeowners bring stability to neighborhoods. Homeowners move far less frequently than non-owners, and hence are embedded into the same neighborhood and community for a longer period. • The average child of homeowners is significantly more likely to achieve a higher level of education and, thereby, a higher level of earnings. • While both homeowners and non-owners may aspire to be engaged parents, homeowners likely live in neighborhoods with more opportunities for school involvement or participation in neighborhood activities. • Homeowners