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Ahh... the dreaded Tax Season. As a homeowner, the tax season can be something to look forward to! There are many tax benefits to take advantage of. We've compiled a list of the top tax benefits, both federal and state.

Mortgage Interest

For most homeowners, this is usually the biggest deduction. A portion of every mortgage payment you make goes toward interest on the loan. The interest paid can be deducted, up to a limit. The loan must be for your primary residence or second home that was used to buy, build, or substantially improve your home. If the loan is not a secured debt on your home, it is considered a personal loan and therefore is not deductible.  

How much can I deduct? It all depends on when you took out the mortgage.

Years…

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