Today we have some year-end real estate tax tips to share with you. We’re coming up to the end of the year, so these tips should help save you some money. Don’t worry; we’ll keep it simple and stay out of the technical details.

In the next few weeks, you should get your end-of-year mortgage statement, which shows how much interest you’ve paid. If you’re itemizing your taxes, give this to your accountant, and they should be able to get you some benefits.

Since COVID hit, many people are working from home. If you have a dedicated home office or workspace, there may be a tax deduction that you can take. You should reach out to your tax professional if this applies to you.

If you’ve bought or sold real estate this year, start looking for those closing statements. Your accountant will request those documents to make sure you’ve itemized all the expenses that can be written off.

We’re not tax experts, but if you have any questions about how real estate can help your tax burden, feel free to reach out to us via phone or email. We’d love to chat with you. Happy holidays!