Home insurance rates have increased by almost 20% nationally between 2021 and 2023 and even more in some states like Arizona where rates have jumped 62% in some cases. In today’s economy, the phrase “every penny counts” seems to hold its truth. The appreciation that homeowners have enjoyed, especially in the past four years, has […]
Tag Archives: homeowner tax tips
Standard or Itemized Deductions
In 2017, the Tax Cuts and Jobs Act increased the standard deduction for married couples to $24,000. In some instances, homeowners may be better off using the standard deduction than itemizing on their return. Previously, homeowners could get a better benefit with itemizing but there is now a $10,000 limit of state and local taxes […]