8 Homeowner Tax Credits & Deductions For 2024

8 tax breaks for homeowners.

Homeownership offers some of the best tax deductions and credits that can save you thousands of dollars in taxes.

Yet, every year, homeowners miss out because they are not aware.

But you’re not one of them…

Because if you watch until the end of this video, you will know the best and biggest tax deductions available to homeowners so you can benefit BIG TIME.

Outline:

Homeownership Tax Break #1 (0:45)
Homeownership Tax Break #2 (2:05)
Homeownership Tax Break #3 (3:01)
Homeownership Tax Break #4 (3:45)
Homeownership Tax Break #5 (4:18)
Homeownership Tax Break #6 (5:36)
Homeownership Tax Break #7 (6:42)
Homeownership Tax Break #8 (7:22)

[AliKanu]

Hi LYFE accounting, This is only work if your itemized deductions exceeds your standard deduction correct? Besides the credits and tax exclusion

[HappyPandaDays]

Thanks for the video! Straight to the point and easy to take notes!

[rashellyohn]

Thanxs for sharing your big brain. Your intro is so me. I bought a home in 2021 and have done home improvements such as remodel the bathroom because of a leak. I came to find out the walls and floor were rotted out. So, I put in new OSB floors and tile and new walls that surrounded the old shower. I also redid all the plumbing and went from rusted out galvanized pipes to pex. I've done much more to this house. I bought the house in June of 2021. Is it too late. Can I still claim the improvements even though I did them myself?
Any guidance would be appreciated.

[kristinaramirez]

I am learning so much with you and your group. You are all so great and give such helpful and well needed information. You are the best. Thank you!

[meshisha]

Very clear. Good job presenting the info. Thanks! 👊🏽

[ossiespencer]

I am so happy to subscribe to this channel. Keep up the good work.

[anthonysaylaheng]

Other cpa said u can claim ITC for rental homes. Are u sure that we can’t claim them if we have rental homes with solar?

[pua]

very educational and very easy for people to understand, thank you

[teferradinberu]

Truely that is a huge tax break info and well explained . thank you

[usgenxr]

Great job explaining, Keran. Thank you!

[rtanaka]

Y'all do a great job. Nice Keran.

[SkotchOG]

Great video, but I'm seeing conflicting information regarding the solar credit date range. The way you explained it makes it seem that anyone who added solar panels to their property during 2021 only gets 22%. But I've been seeing everywhere else that is 26% for 2021.

[TheGeorge]

Did PMI deduction come back for 2023 ?

[frankisawesomee]

Qualify improvements include additions and major improvements.? What does this mean? Home improvement is also tax deductible?

[seanstandberry]

Love this video and topic, thank you!

[NotAchefMark]

I bought a house in dec28 2021... when I filed my taxes, the preparer said I cannot get deductions for sales tax and he just disregarded my home closing document... is that correct?

[shelonadudley]

can you back log ? like if I didnt deduct last year, could I deduct both years this upcoming tax season ?

[michaelmoore]

Awesome dismantling the deductions construct for dummies. What do you know about getting started as a book keeper?

[oceanocean]

Thank you for all the tax$ tips and information very helpful! Hoping my new. Energy efficient heater and Air conditioning unit give me some Tax credit ! Excellent video 👍👋🙏 🎥thank u from California !!!

[bwilks]

Great job! That was very understandable and easy to follow.