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HomeReport
Your Home: A Shelter In More Ways Than One Today's homeowner friendly tax rules make
 homeownership a solid investment for many Americans. For instance, many homeowners are treated to a lucrative tax break when they sell their homes. Those who meet ownership and use tests will find gains up to $250,000 (for single taxpayers) and up to $500,000 (for married filers!) are excluded from taxation. Homeowners can also use the equity in their homes to borrow for other major expenses such as a car or college education. Unlike consumer-loan interest home-equity loan interest is deductible within certain limits. Best of all, being a homeowner brings with it many intangible rewards, including a sense of pride and accomplishment that comes with having a place to call your very own.Please keep in mind that tax issues related to homeownership can be complicated. We strongly recommend you consult a professional tax advisor or the Internal Revenue Service (IRS) for answers to your tax questions as they apply to your specific situation.
SAVE THIS ISSUE!
Updated with New Tax Brackets!
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