Gregg Maul - What's new in Tucson Real Estate

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Dear Friend,

The purchase of a home is one of the biggest investments you can make; but did you know it can be a windfall when you file your taxes as well? In 2003, 35 million taxpayers used the home mortgage deduction, deducting an average of $9,650 per each filer. The U.S. tax code is especially generous to homeowners, allowing them to deduct the interest of their home mortgages, and it also allows for deductions on a number of transactions that are made when buying or selling a home.

Sorting out the tax code regarding homeownership can be confusing. That’s why this month’s Client Appreciation Program is all about the tax advantages of homeownership; how it affects your tax returns, and how you can avoid paying more than you should on your taxes. In addition, you’ll find details about when you can (and can’t) use your home office as a deduction on your taxes.

Below is a tax preparation Checklist that you can use to get started on your 2006 tax return. If you have a complicated tax situation—or just need some help getting started—I’ve displayed a printable coupon for discounted service at H&R block. Sure, the year just got off to a start, but why not get your return filed early to beat the stress of the rush? Regardless, whether you file early or file for an extension, I wish you the best in this “taxing” season.

Sincerely,

Gregg Maul (520) 471-8088