Why Real Estate Assessments Matter

May 18th, 2017 Categories: Random Thoughts

You might not think too hard about your real estate assessment, the dollar value the local government puts on your house and land. You should. The assessment determines how much you pay in property taxes. Read the rest of this entry »

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Tax Credits for Small Wind Energy Systems

May 16th, 2017 Categories: Random Thoughts

Small wind energy systems are popping up in backyards across the nation thanks to an uncapped federal energy tax credit that covers 30% of the cost. Read the rest of this entry »

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What Home Improvements Are Tax Deductible?

March 29th, 2017 Categories: Random Thoughts

It’s no secret that finishing your basement will increase your home’s value. What you may not know is the money you spend on this type of so-called capital improvement could also help lower your tax bill when you sell your house. Read the rest of this entry »

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Will My Taxes Look Different Now That I’m a Homeowner?

March 24th, 2017 Categories: Random Thoughts

Taxes? Gross! Who wants to think about government paperwork, especially when your hand still aches from signing the 977 forms required to buy your first house? But listen up: As a new homeowner, you can typically wave bye-bye to the 1040-EZ form and say hi toitemizing your deductions on Schedule A. Read the rest of this entry »

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How Long to Keep Tax Records

February 17th, 2017 Categories: Random Thoughts

Unless you’re living in the 123-room Spelling Manor, you probably don’t have space to store massive amounts of tax and insurance paperwork, warranties, and repair receipts related to your home.

But you’ll definitely want your paperwork at hand if you have to prove you deserved a tax deduction, file an insurance claim, or figure out if your busted oven is still under warranty.

To help you prioritize your paperwork, we’ve created a hand “How Long to Keep It” home records checklist. Read the rest of this entry »

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Claim Your Residential Energy Tax Credits

December 15th, 2016 Categories: Random Thoughts

Update:The tax credit discussed in this article was for 2009 and 2010. A smaller tax credit of up to $500 is available for certain home improvements through Dec. 31, 2014. Find out the details. Read the rest of this entry »

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