December 18, 2024 5:26 pm
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New budget law includes last-minute tax relief for millions of homeowners

tax breaks for homeowners

tax breaks for homeownersBy Kenneth R. Harney | The Washington Post

Call it buried tax treasure for homeowners: Deep inside the behemoth 654-page bipartisan budget bill recently signed into law by President Trump are little-noticed extensions of key tax-code benefits that expired in 2016 but now can be used for upcoming 2017 tax filings.

Potentially the most popular one is aimed at millions of people who pay mortgage-insurance premiums on conventional, FHA and VA loans. Roughly 4.1 million owners took write-offs averaging more than $1,500 during 2015, the most recent year for which statistics are available. Mortgage-insurance industry officials predict that at least that many will be able claim the benefit on their 2017 tax returns — provided they learn that the deduction has been revived for the year.

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Goodyear approves land purchase

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.