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The Florida homestead exemption is an exemption that can reduce the taxable value of your home by as much as $50,000.
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.
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.
There's a pretty big misconception when it comes to taxes: that making a little more money is a bad thing if it bumps you into a new tax bracket. This is a fundamental misunderstanding of how federal taxes – and tax brackets – work.
Don't leave money on the table when you do your taxes this year. Make sure you explore your available exemptions.
The new tax plan impacts your deductions and property tax credits.
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