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The Tax Difference Of Owning A Second Home

The Tax Difference Of Owning A Second Home

Tax Differences A principal residence and a second home have some similar benefits, but they have some key tax differences. A principal residence is the primary home where you live and a second home is used mainly for personal enjoyment while limiting possible rental...
Overlooked Recordkeeping for Homeowners

Overlooked Recordkeeping for Homeowners

Capital Gains Exclusion Homeowners are familiar that they can deduct the interest and property taxes from their income tax returns. They also understand that there is a substantial capital gains exclusion for qualified sales of up to $250,000 if single and $500,000...