Reader question:

What are the tax benefits of buying a piece of Plano Dallas Texas real estate?

June

Excellent question, June.

Although nobody likes the IRS, we all get a little excited when we find a deduction or rebate that we are eligible for. Whatever you can say about it, the nation’s tax system treats homeowners fairly well, so you can save a bit on your taxes if you own some Plano Dallas Texas real estate.

You can, for instance, deduct the interest on the mortgage for your Plano Dallas Texas real estate. This may even at times refer to the insurance premium for your home. It also goes for home equity loans. It gets even better when you sell your home. Unless you have a very expensive home–over $250,000–then you aren’t going to have any of the money you get from selling it taxed.

Cheers,

Fashun Guadarrama

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