owning real estate

What are the Tax Benefits of Owning Real Estate?

People who have purchased their first home  are usually elated that they own a prime piece of real estate. Later, when their first tax season as homeowners rolls in, they realize (and celebrate!) the full impact of their new tax benefits. What are the tax benefits of owning real estate? Deduction in Mortgage Interests If you have taken out a loan in …

homebuyer tax credit

Do You Need to Pay the Homebuyer Tax Credit?

When the First Time Homebuyer Credit (FTHBC) was first made available, home buyers snapped at the chance to purchase a new home in order to avail of tax credits of between $7,500 and $8,000. While this federal program is no longer available, if you’ve recently sold your first  home, there may be tax implications. Read on! What is the First …