From one of our favorite guest writers - Bruce Becker from SWBC - comes this well-written post about rental property and how it can fit your portfolio. Once you had a chance to peruse it, call us to Boost your plan forward.
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Reality is that nobody likes taxes. Let's face it - if you moved from out of town into our Lone Star State, chances are that you had sticker-shock when you saw the property tax rates. Fortunately, there are a few things you can do to keep your property taxes in check - and keep some of this money in your pocket.
As you go through your regularly-scheduled year-end financial review - and if this is your first time, congratulations on getting it on the schedule! - it’s worth remembering that Uncle Sam does provide a deduction for any and all real estate taxes, as well as interest, that you have paid during the year.
One of the most common tax benefits of home ownership (outside of mortgage interest) is the Homestead Exemption for your primary residence. Surprisingly, it is often ignored and/or misunderstood by homeowners. Simply put, the Homestead Exemption reduces the taxable value of your home, resulting in a lower property tax bill.
Reality is that nobody likes taxes. Let's face it - if you moved from out of town into our Lone Star State, chances are that you had sticker-shock when you saw the property tax rates. Fortunately, there are a few things you can do to keep your property taxes in check - and keep some of this money in your pocket.
