Its that time of year. Getting all your income and write-offs in line to see if we can get any of that excessive money we paid in tax back. Many of the larger housing tax breaks are coming to an end and this may be the last year we get to benefit from them.
Hopefully, some of the expiring tax reliefs will be renew and maybe some new ones will be added. Two things we can agree on about tax breaks...1) They are essential to many of us and have been a big part of the bounce back in real estate marketand 2) Every deduction is helpful and welcome when we look at the amount paid over the year.
Hope this information is helpful..
As always contact your tax advisor to see if you may qualify for any of these tax breaks.