Six important tax tips for homeowners

property-tax-1331753400

UPDATE; Please keep in mind that the tips apply to federal income tax returns and not all apply to State of California returns

By Jeff Reeves

For tax year 2013, the standard deduction is $6,100 for single Americans and $12,200 for those married and filing jointly.

That means unless you can claim more than those amounts, there’s no reason to itemize.

One of the most common ways to get over the threshold, however, is to own a house and unlock the many deductions that come with home ownership.

But it’s not as simple as simply mailing a mortgage bill to the IRS and reaping the rewards. There are a bunch of very specific deductions that require specific paperwork.

Here are six important tax tips to look for if you’re a homeowner:

To read the rest of this USA Today article, please click here

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