How to Avoid Capital Gains Tax after Selling a Home

July 28, 2011

in Homeowner Taxes, Tips When Selling a Home

Benjamin Franklin stated that the only two certainties in life are death and taxes. While there’s little you can do to cheat death when it comes, there are many tax breaks available to homeowners. This article will explain how to avoid capital gains taxes after selling a home. There are many tax breaks available to [...]

Home Mortgage Interest Deduction

June 25, 2011

in Homeowner Taxes

Home Mortgage Interest Deduction History Home mortgage interest is interest a homeowner pays on a loan secured by their home (a main home or a second home). The loan can be a mortgage to buy your home, a second mortgage, a line of credit, or a home equity loan. The home mortgage interest deduction is [...]

How Do I Calculate the Value of My Home?

June 22, 2011

in Calculating Home Value, Homeowner Taxes

What is the fair market value of my home? These are two very common questions when people are considering selling a home. Talk to any real estate agent, and the first thing they’ll tell you about calculating home value is that location is a big factor, but not the only factor. After the big real [...]

Home Mortgage Interest Deduction Could be Reduced

June 15, 2011

in Homeowner Taxes

Summary of the National Commission of Fiscal Responsibility and Reform Many Americans just finished filing their taxes for 2010, and roughly a third of taxpayers itemized deductions on their tax returns. For many taxpayers, the decision to itemize or not is driven primarily by the amount of their home mortgage interest deduction. The average homeowner [...]