Rent Paid Deduction on Your Massachusetts Tax Return

Many people are not aware that if you rent your principle residence in Massachusetts you may be able to deduct 50% of the rent you pay with a maximum deduction of $3,000. As an example if you pay $8,000 in rent during the tax year, you may be eligible to deduct the maximum amount of $3,000 on your individual Massachusetts tax return.

Please consult your tax advisor on all the above information and “Like” us on Facebook for your chance to win gift certificates to great local restaurants, www.facebook.com/veseyandcompany.