Want to sell your Tyler Home? Get a FREE home value report Want to buy a Tyler Home? Search all homes for sale It's unfortunate, but it's that time of year again - time to pay your taxes. Have you prepared? Do you know what you need to do? If you have an Escrow account with your mortgage company, then you need to find a 1098 Form that can tell you about the taxes and interest you've paid on your residence this year. Your tax professional will need this information for your schedule A. You can usually access this information online in January. If you have a mortgage you'll be getting interest only on your 1098, so those are things that you can count off of your primary residence. However, what if you purchased a home this year? Then you'll have a lovely package of all the papers you signed at the title company. You'll need to give your closing sheet to your tax professional. Depending on whether or not your home was an investment property, you'll have the ability to take deductions on certain expenses like property inspections and title fees. If you sold a home this year, there are exemptions if you sold a $250,000 home by yourself or if you sold a $500,000 home between you and a partner. There are all sorts of exemptions to be thinking about, so talk to your tax professional if you'd like to pay the very least amount possible. My biggest piece of advice is to keep your paperwork organized. That often makes the whole process a bit less complicated. If you need any assistance finding a good CPA in the area, please don't hesitate to contact us!