Story Pitch: Top Tax Tips for Homeowners

Thousands of Pennsylvanians purchased homes last year and the buying trend is picking up a bit of steam. Although owning a home can be more expensive than renting, there are many tax advantages to consider. The Pennsylvania Institute of CPAs (PICPA) has the following top tax tips and more to help ensure that homeowners take advantage of all the property-related tax breaks allowed by the IRS. If you own a home - newly purchased or not - be sure to keep the following in mind:

 Deductable mortgage interest
 Deductable closing costs
 Home office deductions
 The Mortgage Debt Forgiveness Relief Act of 2007

Of course, you can't deduct everything just because you own a house. To schedule an interview with a local CPA who can help you homeowner audience members learn more about these tax tips, contact Kathleen Miller at 215-972-6188 or kmiller@picpa.org or Jacqueline Barnard at 267-675-6255 or jbarnard@picpa.org.