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6 Homeowner Tax Breaks to Prep Now to Save Money in 2018

Source: realtor.com - Jun 9, 2017

We know, we know. You raced to the post office just in time to meet the deadline to send your tax forms to the IRS, bemoaning those receipts you just couldn't find anywhere and cursing your procrastination which led to the last-minute crush again. So while you still have taxes on your mind, why not prepare ahead so you're sitting pretty by the time you file in 2018? Here's a roundup of homeowner tax breaks you should prep now, so you can take full advantage of them next year and avoid the last-minute scramble.
1. Set up your home office

If you're working on a La-Z-Boy in the living room, it might be time to clear out the guest room and assemble that Ikea desk. That way, you can take the home office tax deduction in 2017. The "simple method" allows you to take $5 per square foot for a total of $1,500. You could also go for a more complicated deduction: a percentage of your home's electric bills and other expenses.

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Category: General Business