Author Archives: Wendy Horne

OK.  I think that’s a little strong, but I’m hearing this more today from renters who are considering entering this hot housing market.  By the time I get this question, it’s more like, “Vern, tell me EXACTLY how much more … Continue reading →

Sale of Your Personal, Principle Residence – Part 1 – The Home Sale Exclusion If you are married and file a joint tax return, you may be able to exclude up to $500,000 of gain on the sale of your … Continue reading →

Sale of Your Personal, Principle Residence – Part 2 – Some Tax Planning Considerations Divorce Timing is everything. The estranged couple that files a joint return for the year before the divorce decree becomes final will qualify for the $500,000 … Continue reading →

Sale of Your Personal, Principle Residence – The Home Office Tax Trap Many of us take legitimate deductions for our home offices. For some, this may include a deduction for depreciation for the part of our home used as a … Continue reading →

Real estate agents can claim quite a few deductions for their expenses.  In general, expenses must be:   1)      Ordinary and necessary for a real estate agent.  Expenses must be common and accepted in the real estate business. 2)      Reasonable … Continue reading →

It is very important to understand the tax consequences of real estate investing or you could be in for a very unpleasant tax bite. If you are not buying a primary residence or second home, one of the first tax planning steps … Continue reading →

Vacation Home Tax Rules – Know the Rules, Take Your Vacations, Make Some Money, and Deduct Your Costs (Up to a Point) If you are considering buying a vacation home that you also rent to others, you may be able … Continue reading →