Documents to Maintain After Buying your Home in Portland Oregon
Posted on: May 24, 2007
WHEW! After the stress and thrill of buying your home is behind you, there are a few important items to maintain:
- The documents you received from the title company contain important information for filing your tax return for the year you purchased your home. The taxes and interest are generally deductible.
- From now on, you will want to keep receipts of home improvements and repairs. All of these records will be helpful in the future if, or when, you sell your home to avoid paying unnecessary capital gains taxes.
This is important information to share with your accountant; he or she will be able to advise you on the best way to utilize these tax deductions.
Article written by Laura Olin, Broker for portlandrealestate.com.