Owning a home can come with several tax advantages that can help reduce your federal tax burden. Here are some of the key benefits: Mortgage Interest Deduction: This is a big one. You can deduct the interest you pay on your mortgage up to a certain limit. Currently, the limit is $750,000 of mortgage debt … Read More “California Tax Benefits for Owning a Home” »
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“What will I need to leave behind in the home after it’s sold?” As Realtors, this is a question we get from home sellers often. Generally, you’ll need to leave behind anything that’s considered attached or built-in to the house when you sell it. These items are typically seen as part of the property itself … Read More “What Do Home Sellers Need to Leave Behind After Closing?” »
Everyone has a dream home. It could feature a farmhouse-style kitchen with modern appliances or a lounge with the latest television and beautiful hardwood floors. While everyone may have an idea in their head of how it should look and feel, how do you make your dream a reality? Remodeling contractors love helping clients achieve the home … Read More “How to Make Your Dream Home a Reality” »
Ever heard someone say everyone should buy a house? Or that renting is a lot like flushing a whole bunch of money down the toilet every month? Yeah, we’ve heard that stuff too. And it’s nonsense! The truth is, not everyone should buy a house. Because, if you sign the dotted line on a new home when … Read More “Am I Ready to Buy a House?” »
If you don’t have a pile of cash to buy a home, you’ll need a mortgage, and the first step to getting a home loan is a mortgage pre-approval. A mortgage preapproval shows sellers you can afford to buy a home and gives you an idea of how much you’ll pay monthly and at the … Read More “Mortgage Preapproval: Everything You Need to Know” »
Uncle Sam wants you to own your home. The tax code grants tax benefits that reduce your costs of buying, owning, fixing up, and selling a home. Here are brief descriptions of the tax benefits of owning a home — the deductions, the credits, and an exclusion that encourages homeownership. Tax benefits of buying a … Read More “Tax Benefits of Buying, Owning and Selling a Home” »
Many entrepreneurs opt to structure their small business as a limited liability company, or LLC. An LLC protects owners’ personal assets from lawsuits and some creditors. It also provides an easy-to-use business structure. In addition to these benefits, LLCs also offer numerous tax benefits. In this article, we take a look at the variety of tax … Read More “4 Important LLC Tax Benefits in 2024” »
As mortgage rates slowly fall, more buyers and sellers will enter the market, but housing prices should stabilize. Over the next five years, although some trends accelerated by the COVID-19 pandemic will continue to influence real estate and land use, other factors will also gain in importance. Among those are an aging population, the rising costs … Read More “2024-2028 Housing Market Predictions: A Gradual Thaw With Added Challenges” »
If you’re thinking of updating your home this year, put these trends on your radar. Incorporating elements of nature into a home’s decor, biophilic design has been gaining momentum in recent years. For many homeowners, 2024 will be the year of home improvement. With mortgage rates sitting well above 6%, most aren’t willing to enter the housing market – which … Read More “6 Home Improvement Trends to Watch in 2024” »
Chances are when you first moved into your house, you had big plans. Perhaps it was adding that bonus room or maybe it was revamping the backyard. Whatever it was, we know that after a while, you start to get comfortable (sometimes a little too comfortable), and those home improvement projects fall by the wayside. … Read More “13 Home Projects to Refresh Your Home in the New Year” »