You’ve finally found a buyer for the rental property, land, or business you’ve been trying to sell but the buyer doesn’t have enough cash to pay the full purchase price in a lump sum. So you agree to an installment sale. The buyer will make a partial payment now and pay you the balance over… [Read More]
Real Estate Tax and Accounting
Are There Advantages to Owning a Second Home?
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… [Read More]