Properties Magazine April 2017 : Page 27

owners enjoy. The mortgage interest deduction allows homeowners to deduct the interest paid on a mortgage debt of up to $1 million on a primary residence and one additional residence. This deduction is especially helpful in the early years of a mortgage when the monthly payment goes largely toward interest. We’re Out to Clean Up This Town SWEEPING PRESSURE WASHING CONSTRUCTION SITES PARKING LOTS & DECKS WAREHOUSES SPECIAL EVENTS FLUSHING Property taxes It is widely known that being a home-owner means paying taxes on your property to local government, whether it is the city, county or state. What you might not know is that these taxes are entirely deductible from your federal income tax, which is more great tax news for homeowners. 330.798.9200 | WWW.BUCKEYESWEEPING.COM Your #1 Wholesale Plant Supplier Have confidence when purchasing your plant material that Premier Plant Solutions is offering you the best solutions for your success. Insurance premium deduction Homeowners with incomes of no more than $100,000 can deduct their mortgage insurance premiums if they “Tax breaks are just one of many benefits of being a homeowner, and even those who have owned a home for years may be unaware of all of the opportunities for savings.” were required to obtain insurance as a condition of receiving financing for the home. With the current obstacles that prospective homebuyers face, such as student loan debt, the deduction is a benefit that can save homeowners a great deal of money. “If you are on the fence about buying a home, taking advantage of these tax benefits can help put your dream home within reach,” Fox says. “By working with a Realtor, a member of the National Association of Realtors, you can better understand the homebuying process and the many benefits that come with owning a home.” Buying a home can sometimes be a challenging process, but with a little work and a Realtor at one’s side, 2017 may be a good time to start looking. P Contact the Akron Cleveland Association of Realtors at 216-901-0130 or visit ACAR online at to connect with a Realtor. Save time. Order online! Avon 440-934-3813 Broadview Heights 440-526-8711 Hilliard 614-777-9859 General Contractors Construction Managers Design/Build 440-998-0609 | | Ashtabula, OH 27

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