BUYING A FIRST HOME JUST GOT EASIER
The Iowa legislature recently passed a law that allows individuals or couples to save money in a 10-year tax-deductible savings account to go toward the purchase of a home.
Annual contributions have no limit, however, tax deductions are capped at contribution totals of $4,000 for married joint filers and $2,000 for all other filers.
Individuals and couples qualify for this program as long as they haven’t owned a home of any kind for at least three years.
