Owning a home is part of the American Dream. Whether you fancy a log cabin in the middle of nowhere, a suburban Cape Cod with a white picket fence, or a downtown condo in the sky, there’s just something special about trading in a lease for a deed. But that transition can be difficult – and expensive. It’s tough saving up enough money for a down payment and then keeping up with the mortgage payments — to say nothing of the maintenance costs, which are now all on you!
Fortunately, Uncle Sam has a few tax tricks up his sleeve to help you buy a home, save on home-related costs and sell your home tax-free. Some of them are complicated, limited or come with hoops you have to jump through, but they can be well worth the trouble if you qualify. And during difficult economic times like these, you need … Read More
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