A key difference between owing investment property and property that youlive in is that you can deduct far more expenses on your taxes than you can for your own residence. All typical and necessary expenses used to generate taxable income from rental property can be deducted against rental income, which you report on Schedule E… [Read More]
What’s My Home Worth? Defining Tax Assessed Value, Market Value, and Appraised Value For Your Property
When you begin to purchase a home you will hear about Taxed Assessed Value, Market Value, and Appraised Value. These terms can be confusing! We want you to understand all three by explaining them below… Tax Assessed Value of the Property The tax assessed value of your property is what your local county thinks the value of… [Read More]
Home Buying Tips – What a Cincinnati / Northern Kentucky Homebuyer Should Know About Mortgage Interest
Mortgage interest is the most expensive cost to homeownership AND a tax deductible expense! The following tips will help you when you are looking to buy or refinance a home. A Shorter Term Equals Less Interest Paid The longer your term the lower your payment but the more you’ll spend in total interest. The shorter your… [Read More]