You Could Use A Break!

Homeowners Get More Tax Breaks Than Ever Before

Homeownership is not just about having a comfortable, secure place to live. Done right, owning a home can be one of the best investments you'll ever make. Even better, your home can provide a variety of lucrative tax breaks when you buy, sell and then file your annual tax returns.Over the last two years, Congress has passed legislation that -- in many new ways -- increased the tax breaks for homeowners. If you already own a home, you’ll want to take advantage of all the tax breaks you qualify for. Not a homeowner yet -- or know someone who wants to purchase their first home? Those who buy a home in 2009 can take advantage of more tax breaks than ever before.In this Special Report, we’ve summarized tax benefits many homeowners are entitled to including the latest ones. You’ll also find a handy list of IRS publications that discuss home-related tax issues in detail.

Before filing, please be sure to talk with a knowledgeable tax professional about your situation. Although the information presented in this newsletter was accurate at press time, tax rules do change.

HELP FROM THE IRS

Take It From Those In The Know

Here are some helpful IRS publications for more information about home-related tax breaks. You can find them at your local library, post office or online at www.IRS.gov/publications. You can also request copies by calling (800) 829-3676.
Pub. 521 Moving Expenses
Pub. 523 Selling Your Home
Pub. 527 Residential Rental Property
Pub. 530 Tax Information for First-Time Homeowners
Pub. 537 Installment Sales
Pub. 547 Casualties, Disasters, and Thefts
Pub. 551 Basis of Assets
Pub. 552 Recordkeeping for Individuals
Pub. 553 Highlights of Tax Changes
Pub. 587 Business Use of Your Home
Pub. 936 Home Mortgage Interest Deduction
Pub. 946 How to Depreciate Property

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.