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About Billy and Julie Kingery - Information about Billy and Julie Kingery of Rocky Mount, Boones Mill and Smith Mt. Lake, Virginia Testimonials - Read what Billy and Julie Kingery's clients are saying about the real estate marketing and services provided. Quick Response Guarantee - A quick response to your email request for more Virginia home buying & property selling information is guaranteed by Billy and Julie Kingery. Privacy Guarantee - This Rocky Mount, Boones Mill and Smith Mt. Lake real estate web site will respect your privacy, guaranteed by Billy and Julie Kingery. No Obligation Guarantee - Billy and Julie Kingery's real estate help by email is free & without obligation for Rocky Mount, Boones Mill and Smith Mt. Lake home owners in Virginia. For Real Estate Agents - Let Billy and Julie Kingery help you with your professional real estate broker and agent needs in the Rocky Mount, Boones Mill and Smith Mt. Lake area. About NUMBER1EXPERTS™ - NUMBER1EXPERTS™ are top real estate professionals, find out more. Contact Information - How to contact Billy and Julie Kingery. Go to Main Sitemap - Main sitemap sections include Find Rocky Mount, Boones Mill and Smith Mt. Lake Homes, For Home Buyers, For Home Sellers, Rocky Mount, Boones Mill and Smith Mt. Lake Information, Real Estate Resources, and About Billy and Julie Kingery. 
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Tax Considerations >Tax Breaks
Most homeowners are keenly aware of the interest tax deduction on their home loan, but there are many other tax breaks which are often overlooked at income tax time. Pro-rated property taxes and mortgage interest in the year of sale are deductible. You will find these amounts listed on your closing settlement statement. If you paid off your mortgage and had to pay a pre-payment penalty, it qualifies as tax deductible interest. If you paid an "acquisition mortgage loan fee" on a home loan, this fee can be deducted as itemized interest. Home improvement loan fees are also deductible. Any remaining loan fees from re-financed or paid-off mortgages are fully deductible at the time of the mortgage payoff.
Certain items don't qualify as deductions, but can be added to the cost basis of your home, such as transfer taxes, recording and title fees, and special local property tax assessments for new sidewalks, streets, or sewers.
Don't be intimidated by the tax code! A little research or consultation with an expert can help you maximize your real estate tax advantages.
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| Q |
Where would you go if you wished to stay in the world's most expensive hotel room?
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| A |
The Imperial Suite at the President Wilson Hotel in Geneva, Switzerland, which can be reserved for $33,000 per night. |
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