La Crosse, Wisconsin
609 4th St S, Suite B
La Crosse, WI 54601
608-784-8060

Accountants Discuss Tax Breaks for First-Time Homeowners October 23, 2017

La Crosse, La Crosse County
Accountants Discuss Tax Breaks for First-Time Homeowners, La Crosse, Wisconsin

Are you considering purchasing your first house? If so, you should know there are specific tax benefits you can receive as a new homeowner. Tostrud & Temp, S.C. of the La Crosse, Wisconsin, area have been helping residents find all possible deductions for over 35 years. Here, their accountants discuss a few tax breaks you’ll receive as a first-time property owner.

Accountants List 3 First-Time-Homeowner Tax Breaks

1. Mortgage Interest & Property Tax Deductions

Most first-time homeowners are over the moon to discover the interest they pay on their mortgage is deductible and will significantly reduce their taxable income. In addition, you are allowed to deduct your annual property taxes. 

2. Energy Tax Credit

accountantsThe government rewards those who go green by replacing less efficient household appliances with energy-efficient and ecologically sound models. In fact, you can save up to 30%; for a list of applicable appliances, simply check out the ENERGY STAR® website

3. Home Enhancement Tax Breaks

Need to update the air conditioning system in your new home? How about the plumbing? Well, keep track of what you spend. Homeowners are allowed to deduct the cost of any improvements in the year they incur the expense. The updates may also come into play by reducing your taxes in the year you sell your home. 

If you’re a first-time homeowner and are wondering which deductions you’re eligible for, turn to the accountants at Tostrud & Temp, S.C. They’ll review your information and ensure you receive all the breaks you are eligible for. Call them today at (608) 784-8060, or visit their website for more information. 

Other Announcements, Events and Deals from Tostrud & Temp, S.C.
3 Benefits of Using a Bookkeeping Service, La Crosse, Wisconsin
When you own a business, there are countless decisions to make about your day-to-day operations. One of the most important is whether or not to hire an outside professional to assist...read more
3 Questions to Ask Before Hiring a CPA, La Crosse, Wisconsin
The right certified public account (CPA) can be a lifesaver for a small business owner, eliminating uncertainty and taking the finances off of your hands, so you can focus on what yo...read more
Top 5 Tips for First-Time Tax Filers, La Crosse, Wisconsin
Filing your taxes can be a nerve-wracking experience for those who’ve never done it before. Filing correctly can lead to a comfortable tax refund, while mistakes come with potentiall...read more
3 Features to Look For in an Accounting Services Firm, La Crosse, Wisconsin
As a business owner, you need to focus on growing your bottom line. However, it can be challenging to stay focused among all of your daily tasks and responsibilities. Payroll and acc...read more
How to Facilitate Collections When Clients Are Past Due, La Crosse, Wisconsin
You don’t have to be a bookkeeping expert to know that late payments for products or services rendered can threaten any company’s financial security. If your small business has clien...read more