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Thinking of Selling Your Home? – Understanding the Home Gain Exclusion

By admin
April 15, 2016
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Thinking of Selling Your Home? – Understanding the Home Gain Exclusion Often a tax surprise occurs when selling your home. The possibility of capital gains tax should be understood before selling your residence. Here is a summary of the rules. One of the largest tax breaks available to most individuals is the ability to exclude up to $250,000 ($500,000 married) in capital gains on the sale of your personal residence. …Read More

The Lost Art of Tracking Home Improvements – How a tax law makes us sloppy and creates a tax risk

By admin
February 17, 2016
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When does a tax benefit not become a tax benefit? When you assume you no longer need to keep track of something. This is the case with the home gain exclusion. One of the more popular provisions in the tax code is the $250,000 capital gain exclusion ($500,000 for a married couple) of any profit made when selling your home. As long as you follow the rules, most home sales …Read More

Tax Benefits of Home Ownership

By admin
August 1, 2014
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 ow that home values are on the rise once more, it makes sense to review the tax benefits of home ownership. As always, should you know of someone who may benefit from this information please feel free to forward this newsletter to them. Tax Benefits of Home Ownership When it comes to tax savings it really is home sweet home. Here are some of the popular tax benefits of owning …Read More