There's Tax Money Hidden in Your Home, and This Book Will Show You Where to Find It! - Legitimate tax strategies any homeowner can use to save on taxes
- Written by a down-to-earth tax expert-so you can easily understand the tax tips presented
Beyond the garden-variety deductions for mortgage interest and real estate taxes, J.K. Lasser's™ Homeowner's Tax Breaks reveals a treasure chest of tax breaks that any homeowner can use. These include such little-known breaks as getting tax-free rent from a short-term home rental, using the generous $250,000/$500,000 home sale exclusion to shelter gain from the sale of other real estate, and pocketing tax-free mortgage proceeds when trading up to a more expensive home. J.K. Lasser's™ Homeowner's Tax Breaks provides a lively, concise, and plain-English explanation of tax rules for homeowners and a discussion of how these rules can be turned to your tax advantage and financial benefit. Critical coverage will show you how to: - Make your credit card and car loan interest deductible
- Boost the amount of your casualty loss deductions
- Get deductions for household expenses when you have a home office
- Write off home office equipment such as computers and printers
- Make commuting costs from home deductible
- Create tax-free income from renovating your home and selling it at a profit
- Make your home a retirement nest egg that generates tax-free income from trading down or a reverse mortgage
J.K. Lasser-Practical Guides for All Your Financial Needs Shows how to take advantage of the many tax breaks available to homeowners There are 65 million homeowners in the U.S. and there are almost as many tax savings opportunities offered to them. Unfortunately, beyond the most common tax breaks, homeowners are typically in the dark. Worse, some may know about a particular tax break, but not know how to take it. This is the perfect resource for all homeowners. J. K. Lasser's Homeowner's Tax Breaks is a lively, plain English guide to the dozens of income tax savings opportunities currently available to homeowners. In accessible language, it skillfully explains both well-known opportunities, such as how to obtain tax-free gains on the sale of a home, and little known benefits, including how to obtain tax-free short term rents and how to get tax-free cash out of a home when trading up. Homeowners will learn how they can save tax money by acting on any of these great tips: - How to deduct all of your real estate taxes
- How to deduct your home office expenses
- How to get the government to pay for home damages
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