My Real Estate Blog

March 28th, 2008 8:37 AM
Don't Forget: PMI is Deductible!

As April 15 tax day approaches, here is a reminder for home buyers with mortgage insurance.

Home owners with adjusted gross incomes of $100,000 or less can deduct the full cost of their government or private mortgage insurance premiums on their 2007 federal returns.

Families with incomes between $100,000 and $109,000 are eligible for a reduced deduction.

This is a new tax break that Congress has approved through 2010.

"On average, this year's tax break could be worth $350 per taxpayer — an annual deduction that qualified home owners can take each year through 2010," says Kevin Schneider, president of the Mortgage Insurance Companies of America (MICA).

Source: MICA (03/26/08)
Posted by Ralph Schnelle Designated Broker on March 28th, 2008 8:37 AMPost a Comment (0)
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:

 Southwestern Realty 
Sahuarita, AZ 85629
Office Phone: 520-940-0614  Fax: 888-401-4788

Ralph's Cell: 520-940-0614

Rental WebSite
www.SahuaritaGreenValleyRentals.com

E-mail: mailto:ralphschnelle@gmail.com

Why Get An Inspection? | ResultsforYou | Why Choose Me | Contact Us | Find A Home! | Sahuarita | Resources | Closing Costs | News | Real Estate Glossary | Our Homes | Sahuarita Homes for Rent | Green Valley Homes for Rent | Home | The Bi-Weekly Mortgage | Staging Checklist | 9 Steps to Owning | Bi-weekly Pmt Calc | ARM Calc | APR Calc | 15 vs 30 Year Mtg Calc | ARM vs Fixed Rate Calc | Maximum Mortgage Calc | Rent vs Buy Calc | Mortgage Calculators | Your Dream Home | 9 Steps to Ownership | How to Sell Your Home | Staging Your Home | Property Management | Buying Foreclosures/REO's | My Blog | Short Sale Buyer | Short Sale Seller

Copyright © 2012 Southwestern Realty
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.