If you contribute to a retirement account, you may qualify for extra tax deductions. A tax-deferred retirement account grows money without creating annual tax bills for interest or capital gains.
On average, homeowners pay $2,375 on property taxes for their home each year. Good thing being a homeowner means you get to take property tax deductions – and a whole lot more. To take advantage of these breaks, you just need to implement a few tax planning strategies.
If you’ve ever bought or considered buying property in Florida, you’ve probably heard of the state’s homestead exemption – and with good reason. The Florida homestead exemption is a powerful tool that reduces the tax burden on the state’s homeowners.