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Tax Considerations >Tax Breaks       Most homeowners are keenly aware of the interest tax deduction on their home loan, but there are many other tax breaks which are often overlooked at income tax time. Pro-rated property taxes and mortgage interest in the year of sale are deductible. You will find these amounts listed on your closing settlement statement. If you paid off your mortgage and had to pay a pre-payment penalty, it qualifies as tax deductible interest. If you paid an "acquisition mortgage loan fee" on a home loan, this fee can be deducted as itemized interest. Home improvement loan fees are also deductible. Any remaining loan fees from re-financed or paid-off mortgages are fully deductible at the time of the mortgage payoff.       Certain items don't qualify as deductions, but can be added to the cost basis of your home, such as transfer taxes, recording and title fees, and special local property tax assessments for new sidewalks, streets, or sewers.       Don't be intimidated by the tax code! A little research or consultation with an expert can help you maximize your real estate tax advantages.       See All Tips In The "Tax Considerations" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  Where was the actual location of the fictional Genovian Consulate in the 2001 Disney comedy, "The Princess Diaries"? A  The historic Doheny mansion, located on the campus of Mount St. Mary's College, near downtown Los Angeles. See More Real Estate Trivia >

Jason L. Mehler, Associate Broker Better Homes and Gardens Rand Realty 29 Locust Avenue Rye, New York. 10580 Phone: 914-943-6450 Email: JasonLMehler@NUMBER1EXPERT.com I work to consistently exceed customer/client expectations! When buying or selling your home, choosing the right real estate professional is your first important decision. In such a competitive market, you need the expertise, success and company backing that will help you reach your ultimate goal. And you need a personality that offers courtesy, patience and the energy to help you through this process. I assist buyers and sellers of homes in Rye, Harrison, Rye Brook, Purchase & Port Chester, NY as well as other areas of Westchester County, New York. www.JASONLMEHLER.com is brought to you by Jason L. Mehler NUMBER1EXPERT™ in real estate for Rye, Rye Brook, Port Chester and Harrison, New York Read Jason L. Mehler's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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