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LetsGo2PuntaGorda Newsletter |
Welcome to the February newsletter!!
Super Bowl - Valentine's - Spring right around the corner! Lots to think about. Please let me know if I can help you with your real estate needs. I feel like we got off to a slower start but things are definitely picking up! There is SO much new construction that vacant lots are in high demand. I'd say now is the time to be listing your properties!
For happy, zany, crazy days - how about Canned Food Month, No Politics Day (well, we missed that - it was February 1st!), Plum Pudding Day, and Do a Grouch a Favor Day.
RE/MAX "Platinum" Club - 2015, 2014, 2013
RE/MAX "100%" Club - 2012
RE/MAX "Executive Club" - 2011
Direct - 941-676-1033
Cell - 941-347-8782
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This Month's Facebook Drawing Winner
Congratulations to Gina Todisco,
the winner of February's Facebook drawing!
**Enter to Win
March's Drawing**
on Facebook and automatically be entered for a chance to win a $25 American Express Gift Card during the month of March!
**Please note: We've had problems contacting our winners. Please provide your contact information via email to
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Latest PGI Civic Association News
The Punta Gorda Isles Civic Association is a great organization and if you're new to the area, it provides a lot of valuable information about how to become more involved in the community.
You can view a copy of the latest PGICA Commentator here - a monthly publication where you can find information about our area and the multitude of community activities available to you.
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The Isles Yacht Club
The Isles Yacht Club offers a variety of activities and amenities for boaters and non-boaters alike. Membership offers social opportunities, 4 professionally maintained, lit Har-Tru tennis courts, 7 different card and board games, exercise classes, billiards, cruising & kayaking, biking, bocce, a 24-hour state-of-the-art fitness center, award winning dining, golf reciprocity, and much more! There is truly something for everyone!
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Are You Getting the Home Tax Deductions You're Entitled To?
Owning a home can pay off at tax time.
Take advantage of these home ownership-related tax deductions and strategies to lower your tax bill:
Mortgage Interest Deduction
One of the neatest deductions itemizing homeowners can take advantage of is the mortgage interest deduction, which you claim on Schedule A. To get the mortgage interest deduction, your mortgage must be secured by your home - and your home can be a house, trailer, or boat, as long as you can sleep in it, cook in it, and it has a toilet.
Interest you pay on a mortgage of up to $1 million - or $500,000 if you're married filing separately - is deductible when you use the loan to buy, build, or improve your home.
If you take on another mortgage (including a second mortgage, home equity loan, or home equity line of credit) to improve your home or to buy or build a second home, that counts towards the $1 million limit.
If you use loans secured by your home for other things - like sending your kid to college - you can still deduct the interest on loans up $100,000 ($50,000 for married filing separately) because your home secures the loan.
Prepaid Interest Deduction
Prepaid interest (or points) you paid when you took out your mortgage is generally 100% deductible in the year you paid it along with other mortgage interest.
If you refinance your mortgage and use that money for home improvements, any points you pay are also deductible in the same year.
But if you refinance to get a better rate or shorten the length of your mortgage, or to use the money for something other than home improvements, such as college tuition, you'll need to deduct the points over the life of your mortgage. Say you refi into a 10-year mortgage and pay $3,000 in points. You can deduct $300 per year for 10 years.
Property Tax Deduction
You can deduct on Schedule A the real estate property taxes you pay. If you have a mortgage with an escrow account, the amount of real estate property taxes you paid shows up on your annual escrow statement.
If you bought a house this year, check your HUD-1 settlement statement to see if you paid any property taxes when you closed the purchase of your house. Those taxes are deductible on Schedule A, too.
For more tax deductions and tips, click here.
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Susan Hill, REALTOR
®
RE/MAX Harbor Realty
1133 Bal Harbor Blvd, Suite #1129
Punta Gorda, FL 33950
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