It’s that time of year again…taxes. Before filing there are some important questions you should ask, especially if one of your goals is to buy a home in 2015.
1) Do you max out your deductions to pay as little out of pocket as possible?
2) Are you considering buying a home in 2015?
3) Do you need a loan to purchase the home?
If you answered yes to these questions this information might surprise you. Act now, before filing, to arm yourself with the best balance of deductions to position yourself favorably.
Why Not Max Out Tax Deductions?
Not many of us are excited about sending money to the IRS, so looking for every possible tax deduction is understandable. However, mortgage lenders look at NET Taxable Income, not GROSS income.…