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Why Sellers Choose The Chris Kare Home Team - Why home sellers in Orland Park, Frankfort and Tinley Park choose The Chris Kare Home Team. Free Presentation - Free in-home listings presentation on marketing your Orland Park, Frankfort and Tinley Park, in Will and Cook County Illinois property. Property Valuation - How much is your Orland Park, Frankfort and Tinley Park home worth? What Did That Home Sell For? - What did that Orland Park, Frankfort and Tinley Park, Illinois property or other real estate sell for? FSBO - Selling your Orland Park, Frankfort and Tinley Park real estate on your own? Go to Main Sitemap - Main sitemap sections include Find Orland Park, Frankfort and Tinley Park Homes, For Home Buyers, For Home Sellers, Orland Park, Frankfort and Tinley Park Information, Real Estate Resources, and About The Chris Kare Home Team.
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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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| Q |
What famous example of post-colonial architecture is modeled after the palace of the Duke of Leinster in Ireland?
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| A |
The White House in Washington, D.C., begun in 1792 and burned by the British in 1814, was rebuilt in 1818 and restored in 1951.
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