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Call 675-3349
to place your ad
Real Estate
Eileen M. Day realtor ====
HOUSE IS A TAX SAVER
Your home should be more than a nice place to live, it should be an income tax saver. From the moment you take possession until the day you sell it, you are endowed with opportunities to minimize your tax bill.
While you own the home, your two major annual deductions are property taxes and the mortgage. These can be considerable deductions. Keep in mind that it doesn't matter whether you pay property taxes directly or through an escrow jaccount held by the bank. In either *?case, you deduct the sum actually '’paid to the local taxing authority.
Also, using part of your home ♦for business purposes constitues a k deduction for that portion of the hhome expenses used for the business. It is based on the square foot,'age of space used for business. r However, it must be used exclusively for business. ’ When you decide to sell, you ' $ ‘can defer any profit you make if you buy another house that costs as ^rnuch or more than your old house.
If there is anything we can do *to help you in the field of real es'tate please stop in at EILEEN M. -DAY, Realtor, The Clopton •House, Washington, Va. 22747. Phone 675-3003. We’re here to help.
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