
”In this world, nothing is said to be certain except for death and taxes.” – Benjamin Franklin If you have or want to buy or sell a home, you know how critical it is to understand the taxation of property.
There are several ways that you can save money on your property taxes.
1. Interest Deduction– ability to write off the interest of your home.
2. Property Tax Deduction– additional write-off, put a little bit more on your pocket.
3. Exclude Capital Gains- if you are a single person you get to save up to $250,000 and up to $500.000 if you are married.
4. 1031 Exchangeability to not pay any taxes or you can do a transfer to like-kind property.
5. Depreciate the asset– for investment properties, depreciate the value of the property.
Would you like other fantastic tips, resources, and ideas when buying or selling a home? I have prepared several fantastic gifts for you to take advantage of.
Loftman
on said
Excellent items from you, man. I’ve understand your stuff previous to and you are simply extremely great. I really like what you’ve acquired right here, really like what you’re stating and the way in which by which you assert it. You make it entertaining and you still take care of to stay it smart. I can not wait to read far more from you. That is really a wonderful website.