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9 Tax Breaks Every First-Time Home Buyer Must Know

December 22, 2015 by Admin
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Americans’ wallets are in much better shape since the Great Recession. And with higher pay and steadier job security, tax breaks for homeowners can make the prospect of buying a home attractive.

“Tax-wise, this is a good time to buy,” said Yvette Best of tax preparation company Best Services Unlimited. “Homeownership offers tax breaks that renters do not have.”

For new homeowners, a house is an asset that can lower their tax liability. First-time homebuyers should be aware of the housing tax deductions and credits that can save them thousands and offset the cost of ownership. It might require a little more paperwork to claim these benefits, but the savings can make the effort well worth it. Whether you bought a home for the first time in 2015 or are planning to do so next year, find out how these homeowner tax breaks can keep more money in your pocket.

http://www.gobankingrates.com/mortgage-rates/9-tax-breaks-first-time-home-buyer-must-know/

 
 

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