Renting out a second home can provide a variety of benefits for homeowners in the position to do so. However, there are also a variety of things to consider when you're renting out your second space. When homeowners decide to make this change, many wonder what qualifies as a deduction when the
Key Tax Considerations for Real Estate Investors
We were recently featured on Porch.com covering some of the tax considerations and implications. Visit the article for more considerations across the real estate landscape. Tax Considerations for Real Estate As with any investment, understanding the tax implications of managing real estate
Navigating the Maze of Vacancies: Deducting Expenses in Commercial Real Estate
Vacant spaces in commercial properties can be a nightmare. Not only do they represent lost income, but navigating the complex world of tax deductions for such spaces can be equally frustrating. Understanding the Rules of the Game The IRS doesn't readily hand out "bonus points" for empty units.
The New 40-Year Mortgage: Is It Right for You?
The Federal Housing Administration (FHA) approved 40-year mortgages in May 2022. This is a significant change from the traditional 30-year mortgage, and it has both pros and cons for potential borrowers. Why was it approved? The FHA approved 40-year mortgages in an effort to make homeownership
King County Property Taxes Pricing People Out Of Their Homes
Washington State has long been a desirable location for many individuals and families seeking a high quality of life. With its scenic landscapes, vibrant cities, and thriving economy, it is no wonder that so many people want to call this place -- and its neighborhoods -- a home. However, recent
The Seattle Housing Market Has Officially Cooled
Seattle’s housing market is one of the most interesting in the country and has always been a bellwether for the national housing sector. Its sharp decline and subsequent rebound over the last two decades has occurred in lockstep with trends elsewhere, but Seattle is not following suit this time. The
Types Of Deductible Expenses When Selling Your Home
When selling your house, you’ll likely incur various expenses. These costs are usually one-time, and in most cases, they’re not eligible for the home seller tax deduction. However, some of these expenses might be deductible if they meet the IRS rules concerning the sale of your home. Repairs and
Still A Seller’s Market, Seattle Realty Rising
The housing market in Seattle continues to grow with demand for apartments and homes increasing despite inflation and rising house prices. Prices have jumped nearly 20% since last year with some homes staying in the market for only six days. Record-breaking sales for last year were experienced in