 |
Feature
Homes: Homes, properties, & other real estate in Annapolis,
Crofton, and Edgewater and Maryland with virtual tours, photos, and more.
Serving Anne Arundel County Real Estate. |
|
Search
All Local Listings: Search all Annapolis, Crofton, and Edgewater area
MLS listings in Maryland from real estate brokers |
|
National Listings Databases:
Homes for sale in national American USA web site listings databases of
properties |
|
New Construction:
New homes for sale, new construction and newly built properties and
real estate subdivisions |
|
Unique & Luxury Homes:
Home buyers, find luxury homes, real estate, beach front properties,
mansions, & acreage/land for sale on these top national & international
listings web sites |
|
International Properties:
Find international homes for sale on these international/global real
estate web sites from Canada, Europe, France, Germany, UK, Great Britain,
Spain, Italy, Asia, Africa, and beyond |
|
Search ALL the Experts' Homes: Search the best local
homes for sale from all the real estate experts, agents, Realtors, and
brokers |
Please Sign Up For The Latest Listings and the Latest Real Estate News
Tax Considerations >Tax Reform
Owning a home still offers significant tax benefits. If you are renting, it may be a good time to sit down with a professional real estate agent to see how much you can save each year by owning your own home.
You save in two ways when you purchase a home. Even though most interest deductions have been phased out, home mortgage interest and state and local property taxes can be deducted. The interest on a home equity loan may also be deductible.
Your real estate agent can show you how these savings will apply in your situation. You may be pleasantly surprised when you compare the tax savings you will receive as a result of owning your home, and you will build up equity as your home appreciates in value! Also, first-time buyers will see expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, allowing penalty-free withdrawals to purchase a home in the Taxpayer Relief Act passed in August, 1997. Consult your tax advisor for your particular circumstance.
|
| Q |
What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?
|
| A |
One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million. |
 See More Real Estate Trivia > |
|
|
|
- NUMBER1EXPERT™ 
