On the 15th of each month we publish new client mailer content that you can send to your client mailing list by email or post office without attribution to The Lones Group. You can identify client mailer content by its icon,
found beside or under the title of the article.
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How do the homeownership deductions actually work? This article includes examples and math. It can be very compelling - especially for newer homeowners who are paying higher interest rates.
There are plenty of reasons to be excited about homeownership during tax season because homeowners could save hundreds or thousands of dollars on taxes through a number of deductions. This article explains some of the common deductions.
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Although it means more IRS paperwork, being able to itemize your taxes and potentially reduce your tax burden is a homeownership benefit worth exploring! If you would like to provide additional information to people who reach out, check out the two articles referenced below. Tax Benefits of Owning Your Home includes details on each of the seven deductions outlined here and Tax Benefits - By The Numbers provides a mathematical example of the deductions in action.