BUY A SECOND HOME!

Many taxpayers know that home-mortgage interest is one of their most valuable deductions. They're less likely to be aware that IRS allows deducting interest paid on a vacation dwelling!

To qualify for this tax break, the Internal Revenue Service insists that you have fun. You can't just be all business all the time.

In other words, for a second property to qualify for the home-mortgage-interest deduction, the taxpayer must use the additional home for personal purposes during the year.

Suppose a couple has a second home they rent out all year, and they never use it for their own vacations. Sorry -- no fun, no tax break. The property wouldn't qualify as a second home for the purpose of the home-mortgage-interest deduction.

So hurry up and buy that second home; and get that big tax deduction! And, by the way, Tyler Texas Real Estate is a great place to have a second home!