Vacation Home Owners: Adjusting Rental vs. Personal Use Might Save Taxes
With summer drawing to a close, if you own a vacation home that you both rent out and use personally, it’s a good time to review the potential tax consequences: […]
Tax Impact Of Selling Your Home
Summer is a common time to put a home on the market. If you’re among those who are following this trend, it’s important to be aware of the tax consequences. […]
Renting Out Your Vacation Home Can Bring Tax Complications
If you rent out your vacation home for 15 days or more, you must report the income. But exactly what expenses you can deduct depends on whether the home is […]
Tax Consequences to Consider Before Putting Your Home on the Market
When you sell your principal residence, you can exclude up to $250,000 ($500,000 for joint filers) of gain if you meet certain tests. Gain that qualifies for exclusion also is […]
Tax Elections Give You Choices
Choices. They’re everywhere. In tax law, choices are called elections, and they can have consequences for your current return, as well as prior and future year returns. You may not […]