Thinking about selling your current home or vacation property any time soon?
Then my new article is for you! You see, I’ll explain easy steps you can take right now to prepare for (or completely avoid!) the tax hit you may have to take when you sell.
For example, I’ll explain why you should never rely on the home-sale gain-exclusion to shield all of your profit. And I’ll tell show you how keeping certain records can substantially reduce the taxes you may owe.
Don’t wait until you list your home! You’ll find money-saving information right now in my new article titled Tax Tips: Don’t Rely on the Government for a Tax-Free Home Sale.
Here’s just some of what you’ll learn in my new fact-filled article:
- How the principal-residence exclusion can save you hundreds of thousands of dollars when you sell your home!
- The three tests your principal residence needs to pass to qualify for exclusion benefits!
- The three “exclusion killers” that the IRS can use against you… and how to protect yourself against them!
- The tax consequences of selling your home because of hardship!
- How to handle the sale of a rental or vacation home!
- The smart way to avoid taxes on the depreciation of your home office!
- How to reduce taxes by keeping records of improvements!
- The three kinds of records the IRS says you must keep… and much more!
