“Educate and inform the whole mass of the people… They are the only sure reliance for the preservation of our liberty.”
Well, that doesn’t seem to be happening, so take it into your own hands.
Here, I’ll help :
Tax Deductions for Home-owners
There are always options, you just have to be willing to look for them and once you have located them learn the best way to utilize them for your own benefit.
1. Mortgage Interest Tax Deduction
Like most topics in American politics, this appears to be a divisive issue. Well, at least according to Forbes. My suggestion? Until the higher ups figure out what the statistics “prove”, take advantage of any opportunity to make the day to day a bit easier. With Mortgage Interest Deductions you can claim multiple loans, First Mortgages, Second Mortgages, etc. One single caveat, the claims must be used on loans that went towards home improvement.
2. Private Mortgage Insurance, or to you Real Estate savvy individuals, PMI.
This is used to help lower income homeowners make first down payments by means of monthly payments, to ensure that no default occurs. Believe or not, there are systems in place to prevent you from having an overwhelming loan, but no equity on your home.
3. Home Improvement
Unfortunately, because not all of us see the benefits of Energy Efficiency, we appear to be in some sort of limbo regarding whether or not individuals who are pursuing these options should have incentives for doing so. Sadly, we are all too familiar with the government’s inability to successfully operate a website. Even with all of my researching prowess (over confident?), I was not able to find any absolute answers regarding whether or not certain Energy Efficient tax rebates would be extended. You can still get a Wind Turbine, though.
Luckily for us in and around Austin, there are still options, take a look the list HERE and see what incentives and rebates may be applicable to your situation. Don’t hesitate to take advantage of opportunities that ease the stress on your mind and your wallet.