Keep Tax Perks of Homeownership in Mind All Year Long

April 28, 2025

Congratulations! You’ve survived another tax season.

As you know, owning a home brings new financial responsibilities like property taxes, mortgage insurance, and capital gains tax.

But homeownership can also provide tax benefits adding up to thousands of dollars. Next year, keep these deductions in mind to make the most of your status as a homeowner.

To take advantage of some of these opportunities, like the home office deduction, you’ll need to track your expenses throughout the year. So it’s not too soon to start saving your receipts.

This general information is provided to help you plan ahead to meet your income tax obligations. Tax codes change frequently, and most states have their own specific rules. So be sure to do your research and talk with a certified tax professional before filing.