Published by REALTOR.com | May 22, 2024 Home values have risen rapidly over the past few years, but when it comes time to sell, that windfall can come with a nasty surprise: capital gains taxes. Since 1997, home sales that generated less than $500,000 in profits for the seller have typically been exempt from federal …
Capital Gains Taxes Trap Home Sellers—Worst-Hit States Revealed Read More »
Published by FOX Business | May 3, 2023 IRS also plans to nearly triple audit rates on large corporations with assets over $250M The IRS is planning to ramp up audit rates of wealthy Americans and large corporations as part of its sweeping effort to crack down on tax cheats. The tax-collecting agency aims to …
IRS Plans To More Than Double Its Audit Rate of Wealthy Taxpayers Read More »
Published by CNBC.com | April 9, 2024 First-time homeowners often face sticker shock on their mortgage payments after the first year of ownership It’s not unusual for new homeowners to face financial surprises, but people buying a newly built home may be more likely to encounter sticker shock on a key expense. Almost 75% of …
Buyers of Newly Built Homes Can Face a Property Tax Surprise Read More »
Published by REALTOR.com | March 8, 2024 The White House estimates it would help almost 3 million families. President Joe Biden might have thrown a lifeline to aspiring homebuyers in his State of the Union address on Thursday evening, but some experts fear that it could result in higher home prices. The president said he would like …
Biden’s $400 Monthly Homebuyer Tax Credit: A Potential Hurdle to Homeownership Read More »
Published by REALTOR.com | February 20, 2024 Homebuyers looking to avoid high property taxes probably shouldn’t move to New Jersey. The Garden State continues to have the dubious honor of having the nation’s highest property taxes, according to a recent report from personal finance website WalletHub. New Jersey homeowners paid a median of $9,345 in 2022, according …
See How Much Homeowners Pay for Property Taxes in the Cheapest and Most Expensive States Read More »
Published by FOX Business | February 20, 2024 U.S. tax code has a 0% rate on investment income – how to take advantage of it Taxpayers who sold some investments last year may be able to employ an oft-overlooked tool to whittle down the taxes owed and qualify for a 0% rate. There are three income-based tax …
Published by FOX Business | December 26, 2023 Tax brackets to shift higher by 5.4% in 2024 Higher federal income tax brackets and standard deductions will take effect at the beginning of January, potentially giving Americans a chance to increase their take-home pay in 2024 and shield more of their income from the IRS. The …
Published by ThinkRealty.com | September 14, 2023 One of the most appealing aspects of owning single-family rental homes is the long list of deductions available to you come tax time. Unlike an owner-occupied property, when you own and operate rental homes you can claim deductions for a wide range of expenses, from insurance to maintenance …
Published by Forbes.com | September 1, 2023 Forbes lists all 50 states from highest to lowest property taxes, and you may be surprised by what you see. Property tax rates are generally determined on the county level, in contrast to personal income tax rates, which are usually determined on the state level (though counties and …
Published by Quicken | May 22, 2023 Real estate investing not only offers the potential for appreciation, regular income through rent, and the ability to multiply gains through financial leverage, but of course, it also offers compelling tax benefits! Everyone knows that planning for retirement and investing go hand-in-hand. However, as I’ve written previously, smart …
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