TAX BENEFITS THAT MAKE HOMEOWNERS HAPPY
Owning
a home isn't for everyone, but there are some great tax benefits for people who
do. Building equity is a popular reason why renters decide to become
homeowners. Paying a mortgage allows you to build up equity in property that
you can realize when you sell. And when you do sell, profits you make from the
sale are tax-free up to certain limits. Homeowners may also be able to deduct
the cost of mortgage interest and property taxes as itemized deductions.