Tuesday, December 16, 2008

Tax Breaks for Homeowners

Kiplinger.com has this great article on tax breaks for homeowners. Two of these apply to me so I will be taking advantage of them.

  • $7500 tax credit for homeowners- its actually a interest free loan for people who bought their first home
  • Deduction of 100% of the Premium of PMI payments ( if income is under $50,000).

Check out the article for more. It's almost 8:00 and two of my favorite money shows comes on back to back- The Dave Ramsey Show and On the Money with Carmen Wong Ulrich.

Until next time, think prosperous thoughts


1 comment:

oldwhiteandpoor said...

Most states have a "homestead exemption" which saves homeowners a substantial amount on property taxes.

For example, in Michigan, the school property tax rate for homeowners is only one-fourth the rate on other property.

Michigan even allows homeowners a "circuit breaker" tax rebate on BILLED property taxes, even if the property taxes have not actually been paid.

Is this a great country or what?