Your Home as a Tax Shelter
- Topics:
- Strategic Leasing
- Tags:
- Equity,
- Finance,
- Financial Planning,
- Financial Services,
- Free Trade,
- Investment,
- Nolo,
- Taxes
- Source:
- Nolo
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Overview: The home shelters one from the elements, but it is also a valuable tax shelter. The IRS places a limit on the amount of debt treated as home equity debt for deduction. Qualifying capital improvements are those that increase a home's value or prolong home's life, including a fence, driveway, new room, addition, swimming pool, garage, porch or deck, new built-in appliances, insulation, new heating/cooling systems, a new roof, landscaping and the like. Read about more facts on tax benefits of home ownership.
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Format: HTML | Date: Jan 2003 | Pages: 1
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