Owning a home can really pay off at tax time. But despite all the preparation to meet the April 15 filing deadline, mistakes can still happen.
According to HouseLogic.com’s “Nine Easy Mistakes Home Owners Make on Their Taxes,” common home owner tax mistakes include deducting the wrong year for property taxes, confusing escrow amount for actual taxes paid, and filing incorrectly for energy tax credits.
While these mistakes are easy to make, they can be not only costly, they also can draw the IRS to your doorstep.
Help is Just a Click Away. For more valuable tips on homeownership tax breaks, visit HouseLogic’s “A Home Owner’s Guide to Taxes.” Here you can learn about don’t-miss home tax breaks, deductions that some home owners overlook, and tax deductions that affect people who work at home.