NORTH Idaho Real Estate Pro


Property-Tax Deduction for Non-itemizers

   Property-Tax Deduction for Non-itemizers

Uncle Sam, Tax StimulusYou don't have to be a new homeowner in 2009 to deduct qualifying property taxes, but prior to 2008, you did have to itemize your taxes in order to receive the benefit - not anymore. Under the new rule, homeowners who don't itemize can boost their standard-deduction amount by up to $500 if they're single and up to $1,000 if they're married and file a joint return to account for property taxes paid during 2009. You'll need to include a Schedule L with your 2009 tax return, but it's definitely worth it if you qualify. Talk to your tax preparer and don't be one of the millions of taxpayers who will claim the standard deduction and miss out on the savings.

Refinancing Points - When you buy a house, you get to deduct (all at once) the points paid to get your mortgage. When you refinance a mortgage, though, you have to deduct the points over the life of the loan. That means you can deduct 1/30th of the points per year if it's a 30-year mortgage. It's not a lot of savings, but everything helps when you're legally trying to lower your tax bill.

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Contact:   Pam Jank, Realtor, ABR, GRI, CRS, RSPS, PPS
Previews Property Specialist
Web:  Coeur d'Alene Idaho Homes for Sale
Phone:  208-661-2282
Fax:  208-772-628 Toll Free:  800-829-2555 EXT.1275
1924 Northwest Blvd, Coeur d'Alene, ID  838314

ABR Designation - Accredited buyer's representativeGRI Designation - Graduate Realtor InsituteCRS Designation - Certified Residential SpecialistRSPS Designation - Resort & Second Home Property SpecialistPreviews Property Specialist Designation

Your North Idaho Real Estate Pro - Pam Jank


Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)
Your North Idaho Real Estate Pro - Your Free Local MLS Property Search Link
208-661-2282 or Toll Free 800-829-2555 ext. 1275
Coldwell Banker Schneidmiller Realty
1924 Northwest Blvd, Coeur d'Alene ID 83814


Equal Opportunity HousingEqual Opportunity Housing

 Lake Coeur d'Alene

Comment balloon 0 commentsPam Jank • January 22 2010 01:11PM