Real Estate and Taxes

Selling Your Home

On almost every home sale, the seller no longer has to pay taxes on his gains. The capital gains tax is a thing of the past thanks to the Taxpayer Relief Act of 1997. But there are some exceptions to this rule that you should know.

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Rental Income

Rental income is generally any kind of payment you receive for use of your real estate or personal property. Find out how to handle the situation that pertains to you when it comes to rental income...more

Tax Savings Associated with Home Ownership

There is many an opportunity to gain some financial profits as well as save money in your taxes when you buy or sell your own home. Find out more here!...more

What are Installment Sales?

When you sell a property that is subject to the capital gains tax, one of the best methods to save money over the years is to use the installment method. Find out how it can save you!...more

Tax Breaks Associated with Real estate

Buying a home and investing in real estate yields tax breaks for the buyer just as investing in retirement accounts and other forms of investing do. Find out how here!

Deducting Home Improvements

There is a fine line between improvements and repairs on your home when it comes to the IRS. Improvements to the house are tax deductible and even help you pocket more gain when you sell the house. Repairs are not considered tax deductible because they are necessary. Find out more!

Tax Relief on Home Sale

The enactment of the 1997 Taxpayer Relief Act did a world of good for homeowners when it comes to tax breaks. Take a look at how these tax breaks may benefit you if you sold your house this year.

What is the Mortgage Interest Credit?

There is a governmental program to provide taxpayers with financing to buy them a principal residence. This must be used in regards to the purchase, rehabilitation or home improvement of your main home.

Tax Benefits of Renting Your Vacation Home

If you are like many other vacation homeowners, you may rent your vacation house out part of the year in order to help make those mortgage payments a little easier. What many do not realize however is that renting can also yield you some extra tax benefits?

Tax Savings for People Who Rent

The IRS offers the many people who are renters the opportunity to save money on their taxes just like homeowners. The way they save differs in the way that the lifestyle of the person is reflected in the deductions more then the place they reside in. Find out more!

Advantages of Personal Residence Trusts

A qualified personal residence trust is effective when you do not want your home or vacation home considered part of your estate. This helps you to depreciate the value of your estate, therefore helping to lessen the estate taxes your heirs will be hit with. But is this right for you?