Have you done your taxes yet? There are many benefits to living in an apartment in Blacksburg, VA but you may not think that tax deductions are one of them. If you rent, you're probably better off taking the standard deduction. There are, however, a few deductions you may be able to claim even if you take the standard deduction.
As a renter, you often get more for your dollar spent. By renting at Foxridge, you can live in a beautiful community full of apartment amenities and you don’t have to spend money on home maintenance.
There are other potential tax deductions you shouldn't overlook:
- Interest on your student loans.
- Hybrid car deduction.
- Classroom expense deduction. If you worked as a teacher or teacher's assistant last year and used your own money to buy classroom supplies, you can deduct some of that on your tax return.
- Home based business expenses, if applicable
Be sure to talk to your tax professional for more information on what you can deduct as a renter.