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There are a lot of reasons people decide to sell their home. From job changes to life stage transitions or just trying to get closer to family. Regardless of the reason for selling, there is a lot to consider before you move forward.

There are some huge tax benefits to selling your primary home, as well as some things that, while they aren’t benefits, are still important to keep in mind as you consider selling.

Here are 10 things you need to know before you sell your primary home:

If you sell your home at a gain, you may not have to pay taxes on the gain. If you owned and lived in your house for 2 of the last… Read more →

Time is running out. Two of the most beloved generations are fading away fast and taking their hard-earned financial wisdom with them.

Members of the G.I. Generation, otherwise known as “The Greatest Generation” (born 1901-1924), were children during World War One and young adults during World War Two and the Great Depression.  They learned the importance of frugal living out of necessity and taught their children, members of the“Silent Generation” (born 1925-1945), the importance of living within their means—especially since how little their “means” were.

Somewhere along the way, those financially-conservative values were forgotten.  The Boomers were born between 1946 to 1964 and this generation became known as rebellious, suspicious, greedy, and materialistic.  Often referred to as “workaholics,” they worked … Read more →

We’re sure you’re aware that there is a right way and a wrong way to do your taxes. But sometimes, tax deductions aren’t as “cut and dry” as they seem.

Take, for instance, the junkyard owner who had a rodent problem. Instead of hiring an exterminator, he bought cat food and put it out to attract feral cats. The cats took care of his problem and he claimed the cost of cat food as a business expense.

Or how about the taxpayer who tried to claim the cost of a daily sitter for his dog? It seems this pet owner thought his dog was unable to make it through the day alone.

One of those deductions was successful. Can you … Read more →

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