Tax Benefits of Owning a Home | LowerMyBills

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A home is the largest purchase most people ever make. The average home in the United States cost just over $410,000 in the third quarter of 2021, so it’s no surprise that people are looking to make homeownership more affordable.

To encourage people to buy homes, the U.S. government offers tax incentives that range from deducting mortgage interest and property tax payments from your taxable income, to limits on capital gains taxes that are paid when selling a home for a profit.

This video was made to help prospective homeowners understand the tax benefits of owning a home!


Featuring Annie Margarita Yang, Personal Finance Writer
   / anniemargaritayang  

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