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tax advantage. If a homeowner has lived in their primary residence for at least two of the past five years before selling, they can exclude up to $250,000 (or $500,000 for married couples filing jointly) of profit from capital gains taxes. Every situation is different, so it’s a good idea to consult with a tax professional. This benefit allows homeowners to build wealth through real estate without a hefty tax burden. Beyond these deductions and credits, homeownership can also contribute to long-term financial stability. By building equity over time, homeowners benefit from property appreciation and the ability to borrow against their home’s value if needed. While buying a home requires upfront investment and ongoing expenses, the tax benefits make it a financially advantageous decision for many.
in the early years when payments are primarily interest. This deduction applies to loans up to $750,000 (or $1 million for loans taken before 2018), making it one of the most impactful advantages for new homeowners. Another major benefit is the property tax deduction. Homeowners can deduct state and local property taxes up to a limit of $10,000 per year. This deduction can be particularly beneficial in states with higher property taxes, as it helps to offset the cost of homeownership. For those who make energy-efficient upgrades, there are additional tax credits available. Homeowners can receive credits for installing solar panels, energy-efficient windows, and other qualifying improvements. These incentives not only reduce tax liability but also lead to long-term savings on utility bills. First-time homebuyers may also benefit from specific tax advantages. Some states offer first- time homebuyer credits, and qualified buyers can withdraw up to $10,000 from an IRA penalty-free to use toward a home purchase. While the amount withdrawn is still subject to income tax, the penalty waiver can be a useful financial tool. For homeowners who decide to sell, the capital gains exemption can be another significant
O WNING A HOME IS A MILESTONE OF personal achievement. And with Tax Day just around the corner, you might be surprised to find a bevy of potential tax benefits come with it. For many homeowners, these incentives reduce taxable income, lowering the cost of homeownership. One of the most well-known tax benefits is the mortgage interest deduction. Homeowners can deduct the interest paid on their mortgage, which can result in substantial savings, particularly The tax benefits of home ownership BY DAYV MORGAN
ANY OF US WHO ADOPTED the Sonoran Desert as our home within the last decade, like me, are so appreciative to learn of plants that have a history here and can thrive through the excessive summer heat. The I’itoi onion, a multiplier onion, is just such a plant with a fascinating native history. According to Allan J. McIntyre, the word I’itoi (pronounced EE-toy) means “the man in the maze,” a sacred deity of the Tohono O’odom people. The creator I’itoi fought and won an epic battle with Yellow Buzzard and Coyote and now resides on Boboquivari Peak in the mountains southwest of Tucson, as legend has it. Growing these multiplier onions is quite easy. Usually, these bulbs come from gardener friends that have an abundance to give away. (Think of how zucchini is passed on.) However, they also can be purchased online or at farmers markets. These Onion of legend Like the I’itoi itself, proper gardening has layers BY TRUDY FULLER M
Dayv Morgan is a Maricopa Realtor and owner of HomeSmart Premier.
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I-itoi onions are grown in the Walp Demonstration Garden at the Maricopa Agricultural Center.
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small bulbs will look very unassuming. Just stick them in the prepared garden soil, 1 inch down and 4 inches apart, with full sun exposure. Remember, they are going to multiply. As with many plantings, keep them moist but not wet. They can be planted during Arizona’s monsoon season in August through November.
For those who would like more information on legends of the Tohono O’odom, Mr. McIntyre’s book is titled The Tohono O’odom and Pimería Alta . The Primería Alta was a Spanish territory in southern Arizona and northern Sonora, Mexico. One can imagine a pilgrimage to Boboquivari Peak in the future for many gardeners. Perhaps more secrets of creation and planting will be revealed. I’itoi onions are currently being grown in the Walp Demonstration Garden at the Maricopa Agricultural Center right here in the city.
spiky flower, seeds from the flowers can also be harvested. As with other onions, these multiplier onions are known as excellent companion plants for beets, brassicas, strawberries and tomatoes, benefiting the growth and taste of each.
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After harvesting the bulbs, clean them by hand and without water, and let them dry out to cure before trying them out in cooking or storing them for later use. Use the bulbs as if they are shallots. The taste profile will be somewhat different, yet appealing.
Cuttings from green shoots can be used as chives, and shoots will regrow. If grown until the leaves turn brown and fall, bulbs can then be harvested. The bulbs will grow in clusters and can be carefully teased apart when dug up. If some have bolted and have sent up a white,
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Trudy Fuller is a Pinal County Master Gardener.
InMaricopa.com | March 2025
March 2025 | InMaricopa.com
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