As we all know it's that time of year again when we are busily gathering documents in order to file our taxes. Some of us are dreading the task while others are eager to get their taxes filed so they can receive their refund check. Many homeowners know the tax benefits from simply owning their own home and while many of us take those advantages year after year, sometimes we make mistakes. Not a good thing to do on your taxes!
The good people at the National Association of Realtors® have come up with 10 Easy Mistakes Homeowners Make On Their Taxes. Simple things as deducting the wrong year for property taxes or forgetting to deduct private mortgage insurance. Did you utilize the first time tax credit and forget to deduct that credit? This credit for most of us has come and gone, but for a select group (mostly military and government employees) that credit was extended.
Take a look at the article and see if you too have perhaps forgotten, or missed, some deductions. When in doubt, always contact a qualified CPA or tax advisor as everyone's situation is different. While you are there, browse the Houselogic website for tons of great articles from the National Association of Realtors®.