Are you thinking about selling real estate property? Are you liberal minded about selling your real-estate or more conservative? There are a number of issues that could impact the taxes that you might owe. Here are steps you can take to minimize the gain, defer the gain, or spread the gain over a number of years. Whichever you chose, you can win from the sale of your real estate, IF you handle it correctly.
If you are considering converting your home to a rental, there are a number of tax issues you need to consider before making a final decision.
What You Should Consider Before Converting Your Home to a Rental
One of the first issues to consider is that by converting your home to a rental, your main home that is, you may give up an opportunity to realize tax-free income. Currently, taxpayers are allowed to