Boost Your Income With a Brilliant Deduction

I’m going to tell you how to boost your paycheck by hundreds of dollars every week. And you won’t have to work an extra second to do it! Your favorite relative will give you the extra cash as a present. I’m referring to your Uncle Sam. And his gift is a generous tax deduction for your Orange County home.

Tax pro Teresa Tims has these starter tips for you. Consider these the first steps to tax enlightenment and a heftier income.

• First, let’s look at a question that’s probably gnawing at many of you: What exactly do we mean by tax deductable Orange County real estate?  We’ll use your own residence as an example. Let’s say you have a Laguna Niguel Condo or Dana Point Condo, and your monthly mortgage payment is $2,000. This cash outlay includes $1,300 in interest. The remaining $700 is divided up as $200 for principle, $300 for real estate taxes, and the $200 for homeowners insurance. That’s all money down the drain, right? Wrong. The interest payment and real estate taxes are both tax deductable. In other words, the $1,600 you spend to cover these expenses every month is off limits to the tax man! Can’t touch this, Uncle Sam!
• The picture gets brighter when you look at it this way: The deduction guarantees that the first $1,600 of your monthly paycheck is in effect NOT TAXED. Typically, about $432 would have been squeezed out of the check and poured into Uncle Sam’s barrel. But with the deduction in play, you keep every last penny of your earnings. That’s a $432 bonus in your pocket! Cha-ching! In effect, your $2,000 condo payment has been discounted to a mere $1,568. That’s easy money and easy living, wouldn’t you say? Lesson learned – tax deductions pack some major firepower. Harness it!
• The really great news is that anyone under the sun can benefit from these powerful deductions. You don’t need a sultan’s fortune. All it takes is a workable strategy. And that’s where a savvy tax pro comes in. Their playbook has all the right moves. Hunt down one of these wizards as soon as you can. The sooner you do, the sooner you’ll profit.

Our team will be more than happy to refer you to one of these experts. And, of course, we’re ready to assist you if we can answer any of your questions about tax deductions for your Orange County home or about getting the ultimate deal on an Orange County property. As the area’s premier coastal property experts, Hillary Caston & Associates can help you discover the abundant opportunities here in the Orange County Real Estate market. Connect with our team now at 949.922.8490 or hillary@thecoastalpropertyexperts.com.

Until then, Sunny Days and Happy Sailing!

Regards,

Hillary Caston