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Money Matters: These Write-Offs Could Save You Money

April 8, 2015 By CENTURY 21

It’s April, which means that Tax Day is quickly approaching. Filing your taxes can feel like a daunting task, especially for homeowners. Whether you’re doing your taxes yourself, or hiring someone to do so, it’s important to understand how you can save as much money as possible.

These write-offs are some of the best options for homeowners.

1. Mortgage Interest: This is the biggest deduction for homeowners. You must itemize the deduction, but it must be greater than the standard deduction. You can also use any mortgage points that you used when you purchased your home. (Fox Business)

2. Property Taxes: Yes, you can write-off certain taxes. You can write off your property, state, and local income taxes. (Time.com)

3. Home Improvements: Technically, the only home improvement write-offs you can deduct are those that were necessary for medical reasons like installing a wheelchair ramp outside of your home. Note that it’s advised that you keep all of your receipts for non-medical home improvements because it’s possible that they can be used to reduce your taxes when you’re ready to sell your home. (TurboTax)

4. Moving expenses: If you moved more than fifty miles for a new job, you can write off moving expenses. Talk to your employer to get the necessary paperwork. (Time.com)

5. Home Office: Do you run a small business from the comfort of your home? You’re in luck! You can file for a home office deduction. This even includes everything from the cost of painting the room, to the cost of buying a computer and home office supplies. It’s best practice take a picture of the office to have on record. (TurboTax)

6. Energy efficiency: You can get a deduction for owning energy efficient appliances. Heat pumps and solar powered systems garner the highest deductions. Items like energy efficient windows are the next highest deductible. Keep your receipts for your records. (HouseLogic)

If any of these write-offs apply to you, take the extra time to fill out the paper work. It may benefit you in the long run!

Money Matters: These Write-Offs Could Save You Money

April 1, 2015 By CENTURY 21

These write-offs are some of the best options for homeowners.

Mortgage Interest: This is the biggest deduction for homeowners. You must itemize the deduction, but it must be greater than the standard deduction. You can also use any mortgage points that you used when you purchased your home. (Fox Business)

Property Taxes: Yes, you can write-off certain taxes. You can write off your property, state, and local income taxes. (Time.com)

Home Improvements: Technically, the only home improvement write-offs you can deduct are those that were necessary for medical reasons like installing a wheelchair ramp outside of your home. Note that it’s advised that you keep all of your receipts for non-medical home improvements because it’s possible that they can be used to reduce your taxes when you’re ready to sell your home. (TurboTax)

Moving expenses: If you moved more than fifty miles for a new job, you can write off moving expenses. Talk to your employer to get the necessary paperwork. (Time.com)

Home Office: Do you run a small business from the comfort of your home? You’re in luck! You can file for a home office deduction. This even includes everything from the cost of painting the room, to the cost of buying a computer and home office supplies. It’s best practice take a picture of the office to have on record. (TurboTax)

Energy efficiency: You can get a deduction for owning energy efficient appliances. Heat pumps and solar powered systems garner the highest deductions. Items like energy efficient windows are the next highest deductible. Keep your receipts for your records. (HouseLogic)

If any of these write-offs apply to you, take the extra time to fill out the paper work. It may benefit you in the long run!

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Money Matters: How to Decrease Your Energy Bill this Winter

November 24, 2014 By CENTURY 21

Keeping your home warm during the winter months is essential, but your heating bills can add up quickly. You may think there is no hope when it comes to decreasing heating bills—you have to stay warm, so what are the alternatives? Think again and use these tips for helping to decrease your energy bill during the cold, winter months.

1. Change furnace filter: Furnace filters only cost a few dollars and can be installed easily. Over time, furnace filters can become clogged, making your furnace run less efficiently. Unclog the filter to save money. (Investopedia.com)

2. Replace light bulbs: Changing out your halogen or incandescent bulbs for compact fluorescent bulbs is a great way to decrease costs. Fluorescent bulbs use 75% less energy than others, which won’t make you feel guilty about turning those lights on for the 5 pm sunset.

3. Attic insulation: Make sure that your insulation doesn’t just cover attic walls, but the floors as well. Uninsulated floors can cause heat to escape through the roof and make your home feel colder than it actually is. (Investopedia.com)

4. Adjust thermostat: You can save 10% on your yearly bill if you lower your thermostat 10-15 degrees for 8 hours. It’s best to do this during the day when it’s not as cold.

5. Humidifier: Investing in a humidifier can do wonders for your home. When your thermostat is turned down, a humidifier will keep the air moist and make the temperature feel warmer. (Daily Finance)

6. Use LED holiday lights: Keeping holiday lights running for a significant amount of time can really add up. Switch out regular lights for LED ones since they use 80-90% less energy. If you want to deck your halls for the holiday season, don’t rack up your energy bill in the process.

7. Raise the shades: The cheapest way to warm up your home? Pull open your blinds and curtains! Letting sunlight into a room is a good way to keep your house warm and energy bills low. (SF Gate)

Making your home more energy efficient can not only save you money and keep your home warm, but it can also reduce your home’s carbon footprint. Why not save money while making your home a better place to live?

Recommended Reading:

-Keep Your Home Cool Without Touching the Thermostat

-Summer Savings: 5 Ways to Decrease Your Energy Bill

-How To Decorate Your Home on a Budget

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Summer Savings: 5 Ways to Decrease Your Energy Bill

July 19, 2014 By CENTURY 21

Summer is in full swing and as the temperature rises, so can the electric bill. When you’re ready to escape the sun, you shouldn’t have to feel guilty about seeking cool relief inside your home.

Here are five things that may help to decrease your energy bill this summer:

1. Use the energy saver option on your air conditioner (AC): When you leave your home, use the energy saver option on your air conditioner rather than turning it off. The energy saver will keep your house at a cool temperature. If you turn off your air conditioner the temperature in your house will rise, and when you turn the unit back on it will need to work harder to cool your house down again, which in turn, can increase your electric bill.

2. Fans are your friend: Well placed fans can keep cool air circulating in the house, which means you might be able to delay turning on the air conditioning—especially if you can also leave windows open on cool summer evenings.

3. Create a lights-out policy: Keeping all of the lights off in your home during the day is a simple way to conserve energy and lower your electric bill. Try to rely on natural light alone. At night, consider trying something new like candlelit dinners or dimly-lit game nights.

4. Use heavy drapes on the windows: We’re not saying you have to be Dracula, but try hanging some heavier drapes—especially in windows that get a lot of natural sunlight. Close the drapes when you leave the house to help keep the sunlight out and the cool air in.

5. Get your AC inspected: Inspectors can make sure your system is leak-free and operating as efficiently as possible. Don’t forget to clean air filters; some units require monthly cleanings.

Many people shivered their way through a long winter dreaming of summertime. With these tips, you can help enjoy fun in the sun without getting burned by rising energy bills!

Recommended Reading:

-How to Make Your Home Summer Ready

-Just DIY It: 5 Natural Cleaning Products

-How to Decorate Your Home on a Budget

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7 Reasons You’re Secretly Jealous of your Dollhouse Family

April 19, 2014 By CENTURY 21

Did you play with a dollhouse growing up? Were you just a tiny bit jealous of the tiny inhabitants of the teeny tiny houses? It’s okay if you were – no judgment.

Here are a 7 reasons to be jealous of your dollhouse family:

1. Someone bought their home for them and they didn’t pay a cent!

2. They don’t pay mortgages, rent, or bills.

3. Your dollhouse family can move easily without the stress of relocating and hefty moving bills.

4. Their clothes, furniture, and food are free. They don’t even have to use the Sims’ Rosebud !;!;!; cheat for more money.

5. They live forever and never look a day older. It’s like Benjamin Button, but better.

6. They have an interior designer, a maid, a chef, full-time security, and more! Daddy Warbucks would be impressed.

7. They don’t have to make difficult decisions or any decisions at all!

We hope you enjoyed this little walk down nostalgia lane!

For entertainment purposes only.

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