You just got pre-approved for a mortgage loan and have been out every weekend going to open houses, make sure along with your real estate professional that you are consulting a certified public accountant. Why do you ask? For one very important reason after another, such as:

1. What is the best way for you to take title? This advice cannot be given by your real estate professional, as they do not know your tax circumstances intimately.

2. Have your CPA explain to you propositions 60 and 90; this is your tenant’s slide for when you sell the property after you are 55 years old. This might not seem like a big deal now, but it will then.

3. What are your exact tax write offs this year, what can you write off applying to your home as far as improvements, for instance energy-saving windows energy saving appliances, or whatever is in the current tax law for that is the next year, what will be your tax write offs every year to follow? CPAs are intimately familiar with each and every line of the tax code so they’re essential to helping you make the smartest financial decisions.

I know it sounds boring, but then again it’s always fun to see money for yourself that you never thought you had. For this and any other advice feel free to email me anytime at This email address is being protected from spambots. You need JavaScript enabled to view it..

Happy Hunting :-)

Originally posted at: http://www.firstteam.com/blog/?p=8785