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
Common & Confusing Terms In Real Estate: Fee Simple & Fee Tail
Before you buy any property, make sure you understand what you're getting into. Of course, for anyone that's purchased a home, you know the mountain of paperwork to get through before the sale is final. However, this is all the more reason to pay close attention to the verbiage used on the realty's
Cornerstone Deductions You Can Make While Renovating
As a homeowner there will eventually be a time when you may need to upgrade the home in order to increase its value. This is important if you plan on selling the home and are looking to live in a house that is more modern. Fortunately for homeowners there are many ways in which you can benefit
All The Details To The Washington State First-Time Homebuyer Program
The Washington State first-time homebuyer program is an excellent way for buyers in the state to get into their first home. While this program might not be for everyone, it is one of the best in the country. Take a look at what this program can do for you if you are looking for your first
Silver Linings of 2020: It’s a Good Time to Refinance
There's no arguing the fact that 2020 has been a pretty awful year overall. The COVID-19 situation has done a number on people all around the world. It's brought on the closings of all kinds of businesses, too. Despite that, there may be a small bright side to the 20s. That's because, for many, home
Is The First-Time Homebuyers Tax Credit Gone?
In 2008 (due to the economic downturn), the Housing and Economic Recovery Act passed that enabled Americans to qualify for a federal tax credit if they purchased a home that year. If you purchased a home in 2008, the credit acts like an interest free loan and was expected to be paid back on your tax
How to Maximize your Rental Income by Reducing your Rental Income Tax
Most people are happy to own income properties, but the complicated rental income taxes deter them from turning it into a thriving business. Property owners have a mandate to pay two types of housing taxes, namely, the real estate tax and the capital gain taxes. Although the charges are said to be