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
Owning an Airbnb or indulging in short-term rentals can be a lucrative venture, but come tax season, the excitement can quickly sour if you aren't prepared. This comprehensive guide is here to demystify the process and help you maximize your deductions, leaving you with more green in your
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 EstateAs with any investment, understanding the tax implications of managing 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 GameThe IRS doesn't readily hand out "bonus points" for empty units.
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
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
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
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