When it comes to buying a home, reaping the tax benefits is a bonus. But, experts warn, tax benefits for homeowners and homebuyers shouldn't be the sole reason to commit to a mortgage.
"To look at buying a home as a tax gain shouldn't be your main goal," says Laurie W. Ziegler, an enrolled agent based in Saukville, Wisconsin. "But if you are going to be buying a home, you certainly should be considering what tax benefits you could get from that."
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Something important for homebuyers (and all taxpayers) to note is that President Donald Trump's tax reform, which takes effect for taxes filed in 2019, increased the standard deduction to $12,000 for single filers and…