Real Estate Tax Deductions
Tax season has arrived. It’s time to reconcile the books and ask how your Boulder County real estate holdings can be used in your favor. Whether you are a first time home owner or a seasoned investor, there is money to be claimed back. Don’t let the IRS take what is rightfully yours.
Ask me about taxes? No Sir/Ma’am… That is not the best advice I can give you! Real Estate is my area of expertise, definitely not taxes… Asking your accountant is a much better idea. But feel free to use me for moral support etc. 🙂
1. If you closed a deal with me in 2014 and it was not 100% cash, then you need to have your HUD-1 Form on hand to determine some real estate tax deductions. Need a copy emailed? No problem, it will just take me 2 minutes and I’d be delighted to help. (Quicker than finding your own copy from closing, isn’t it?!)
2. Your mortgage service provider should send you the document you need to determine how much interest you paid in 2014. Check your mail and/or call them.
3. Need a referral to a really great local accountant? I have one for you. This guy is so reasonable and personable, you will WANT to pay taxes! He will bend over backwards to make your tax life easier, to keep you “out of the penalty box” and ensure your taxes are done right. Then he will give you all the good advice you need to tweak your ways and make 2015 a more profitable year too. Bonus! Call Silver Fern Homes (Dallice) for his number: 303-746-6765
Read this Mashable article on tax write-offs and ask your tax preparer if you have missed deductions in any of these 10 common areas:
- Education
- Job Hunt
- Real Estate Tax Deductions
- Health Costs
- Charitable Donations
- Moving for your Job
- Energy Efficiency Upgrades
- Self-Employment Expenses
- Children
- Parents as Dependents
