Feb. 8, 2013
After my fiancé and I bought our first house last year, there was a lot to be excited about – updating the landscaping, picking out paint colors – but there was one thing I was dreading.
The idea of filing our taxes as homeowners seemed like a daunting task. It meant going through the multiple file folders of paperwork from closing and household expenses that we've already amassed after only six months … not my idea of a good time.
But then I learned about all of the deductions we can claim on our taxes as homeowners, especially the mortgage-interest deduction, and the savings made it all worth it.
The IRS can best explain which expenses you can and cannot deduct as a homeowner. Just keep your records organized and claim your deductions, and you may turn a tedious experience into something fun. If you're like me and you consider getting a break on your taxes fun, that is.