Gaithersburg and Montgomery County real estate and homes for sale in Maryland, luxury homes, foreclosures and investment - Andy Werner & Associates, REALTORS® Andy Werner & Associates REALTORS(r) for Gaithersburg and Montgomery County, Maryland real estate, luxury homes, foreclosures and investment - NUMBER1EXPERTS™ Andy Werner & Associates NUMBER1EXPERTS(tm) for Gaithersburg and Montgomery County, Maryland real estate, luxury homes, foreclosures and investment
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Andy Werner & Associates, REALTORŪ, real estate agents and broker for Gaithersburg and Montgomery County Maryland home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
Tax Considerations >Tax Breaks

      Most homeowners are keenly aware of the interest tax deduction on their home loan, but there are many other tax breaks which are often overlooked at income tax time. Pro-rated property taxes and mortgage interest in the year of sale are deductible. You will find these amounts listed on your closing settlement statement. If you paid off your mortgage and had to pay a pre-payment penalty, it qualifies as tax deductible interest. If you paid an "acquisition mortgage loan fee" on a home loan, this fee can be deducted as itemized interest. Home improvement loan fees are also deductible. Any remaining loan fees from re-financed or paid-off mortgages are fully deductible at the time of the mortgage payoff.
      Certain items don't qualify as deductions, but can be added to the cost basis of your home, such as transfer taxes, recording and title fees, and special local property tax assessments for new sidewalks, streets, or sewers.
      Don't be intimidated by the tax code! A little research or consultation with an expert can help you maximize your real estate tax advantages.
     

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Real Estate Trivia
Q 
What group of settlers introduced the log cabin to the New World?

A 
The Swedish settlers of Delaware brought their own timber for building log cabins, a style that originated in Finland.
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Andy Werner & Associates, REALTORŪ, real estate agents and broker for Gaithersburg and Montgomery County Maryland home listings, property and land for sale - NUMBER1EXPERT(tm)

Andy Werner & Associates
RE/MAX Realty Group

6 Montgomery Village Avenue, #200
Gaithersburg, MD. 20879
301-721-0000
301-258-7757
Fax: 301-921-4536
Email: andy@andywerner.com

Andy is a native of Maryland and has been a Montgomery County resident since 1978. He has been serving the real estate needs of people in the Washington DC Metro area since 1989.

Having won numerous awards for his outstanding service, including the RE/MAX Hall of Fame and Lifetime Achievement Awards, Andy understands that selling or buying a home can be an overwhelming experience, requiring a strategy unique to the need of each individual. He listens to you and weighs your needs against your lifestyle choices and financial considerations.

Whether your search is due to personal or corporate relocation, desire for a vacation or retirement home, or for an investment opportunity, Andy will help you find the best value for your money.

ABReProEqual HousingMLSREALTOR


RE/MAX Realty Group real estate and homes for sale in Gaithersburg and Montgomery County Maryland

RE/MAX Realty Group real estate and homes for sale in Gaithersburg and Montgomery County Maryland

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