Whatever the location, size, or value of a second home, certain tax advantages are built in. However, your opportunity to benefit from them depends on how you use the property. Personal Use Both property taxes and mortgage interest are as deductible for a second home as they are for your primary residence — and are […]
Archives for March 2018
Protect Your Finances – Plan Today for an Emergency Tomorrow by Organizing Your Records Now
No one expects to be the victim of a disaster, but every year, people find themselves in the midst of fires, floods, earthquakes, and other catastrophic events, with little, if any, time to prepare. With the fires and heavy rainfall that has hit California recently, it’s best to be prepared. And, every year, personal and […]
Get a Tax Credit when You Install a Home Renewable Energy System
Thinking about installing a renewable energy system in your residence? Uncle Sam offers individual taxpayers a federal income-tax credit equal to 30% of the cost of qualified residential energy-efficient property (REEP). What Systems Qualify? Credit-eligible property includes: Solar electric Solar water heating Geothermal heat pump (uses ground or ground water as a thermal energy source […]