Dallas Home Appraisals News and Information

Tomorrow is April 15th - tax day in the USA, or, as we often refer to it - Extension Filing Day!  Sometimes it just takes us a little longer to be sure we've squeezed every allowable deduction out of our return.  But if you're one of those (admirable) people who like to file on time and get it out of the way, we have gathered some tips and website info to help you squeeze some deductions of your own (can't help you eager beavers who have already filed, but we're impressed!).

U.S. New & World Report has "5 Hidden Tax Breaks for Homeowners".  Don't know how "hidden" they are, but there might be a couple you haven't considered.  For owners of rental properties there is some interesting info here related to tax deductions for "second homeowners."  If you want to go straight to the source, look for IRS Publication 527, Residential Rental Property (Including Rental of Vacation Homes) at irs.gov (opens as a pdf, so if you don't have adobe reader - which is free here - and don't want to get it, click here for a text version).

There has been a lot of talk about the new homebuyer tax credit for 2009, but if you were a first time buyer on or after April 9, 2008 there could be a $7,500 credit for you.  The National Association of Home Builders has a list of FAQ's, and of course it's covered at irs.gov.

Hope this information is helpful.  Happy filing!