2017 if fully underway and if you haven’t started thinking about your taxes you should! We want to make sure you remember the different ways you can save on your taxes if you are a home owner. You are almost always able to deduct any interest, private mortgage insurance and any points you paid (if you purchased or refinanced a home in 2016). Property taxes are also a tax deductible and there are still some energy saving tax credits available. For a full list of what you are able to deduct visit this website, http://www.marketwatch.com/story/10-homeowner-tax-breaks-you-should-be-taking-advantage-of-2015-04-02.
If you purchased your home last year you are also able to deduct a lot of your closing costs. We are happy to provide you with your Settlement Statement if you do not have it. Your accountant will most likely want to see it while she/he is preparing your taxes.
If you are in need of an accountant we have a great one to refer! Lisa Callan is a local accountant in Flagstaff and we recommend her highly. If you have any questions about what buying or selling a home can do for your tax situation please don’t hesitate to contact us !