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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 |
What was considered the world's tallest building one hundred years ago?
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| A |
The Eiffel Tower in Paris, France, completed in 1889 and standing 984 feet tall, is still considered one of the world's greatest structures. |
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Rita Quintero, CEO/Broker
Regional Realty
2943 Emmorton Road
Abringdon, MD 21009
410-569-7825
Fax: 410-569-2006
Toll Free: 866-492-7355
ritaquintero@NUMBER1EXPERT.com
rita@ritaquintero.com
I am a full time licensed Broker/Realtor serving Maryland and Pennsylvania helping Sellers and Buyers. I have a team of specialist to ensure extraordinary service for my clients. I display a high standard of professionalism as well as a thorough knowledge of the real estate industry.    
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