Taxes & Deductibility
You are still eligible for the deductions on your income tax return for the amount of the profit and property taxes. We urge you to consult a tax specialist to see how you are specifically impacted. In general terms however, the tax id number for the trust that is created for your transaction will be your social security number, and therefore the tax benefits should flow directly to your personal tax return.
While we are now able to offer any of the three methodologies for Islamic Finance, we recommend Ijara for long term real estate, Murabaha for things such as Automobile or Inventory finance, and Musharaka for Student Loans and Goodwill Business Finance.