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School Reports in Alpharetta, Roswell and Atlanta, Georgia

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Tax Considerations >Tax Reform

Owning a home still offers significant tax benefits. If you are renting, it may be a good time to sit down with a professional real estate agent to see how much you can save each year by owning your own home.

You save in two ways when you purchase a home. Even though most interest deductions have been phased out, home mortgage interest and state and local property taxes can be deducted. The interest on a home equity loan may also be deductible.

Your real estate agent can show you how these savings will apply in your situation. You may be pleasantly surprised when you compare the tax savings you will receive as a result of owning your home, and you will build up equity as your home appreciates in value! Also, first-time buyers will see expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, allowing penalty-free withdrawals to purchase a home in the Taxpayer Relief Act passed in August, 1997. Consult your tax advisor for your particular circumstance.

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Q	During what months of the year do most people move from one home to another?
A	Most moves occur between the months of May and September.
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Thomas LeCain, REALTOR®, real estate agent and broker for Alpharetta, Roswell and Atlanta, Georgia home listings, property and land for sale - NUMBER1EXPERT(tm)

Thomas LeCain
RE/MAX Around Atlanta
Black Tie Homes Marketing
240 Sandy Springs Circle
Atlanta, GA 30328
Phone: 404-806-5353
Fax: 404-474-7355
Email: Tom@HomesAtlanta.com
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