Budgeting for buying a home can be difficult enough when you're just weighing mortgage options and a purchase price. But there are many other factors that go into the cost of home ownership. Some of
Tax Deductions For Landlords
As a landlord who rents out a home, condo or townhome in Port St Lucie Florida, you are eligible for certain tax deductions. These deductions fall into three categories.
As a homeowner, even if you don't live there, you can take as an income tax deduction paid property taxes, interest on the mortgage and any points you paid at the time of closing.
Because you are renting the property, you can also deduct the annual cost of mortgage premium insurance, landlord insurance, water and trash bills and the cost of any repairs.
Finally, there is a third category which is a bit complicated and you should get the help of a professional. Some items can be deducted but only over a period of years, under the heading of depreciating. Items falling into this category include the price of the house, closing fees, and long term improvements such as a new furnace.
If you have questions about leasing your property in Port St Lucie Florida or anywhere on the Treasure Coast, please call me at 772-370-8631 or www.MyStLucieRealEstate.com
I have been selling real estate in South Florida since 1998 with a specialization in homes, town homes and condos in St Lucie and Martin Counties. My service areas include the cities of Port Saint Luc....
Latest Blog Posts
http://www.movetostlucie.com/what-is-my-home-worth.htmlClick on the Link above on or the Market Report To get a FREE Home Value Analysis.No pressure, even if you are not planning on selling and just