Posts by admin

What kind of properties are these?

Posted by on Feb 26, 2020 in Florida Real Estate, Home Owner Tips, Real Estate | 0 comments

It is the way the property is used that determines the type of property it is, not what it looks like.  Based on the intent of the owner, the property could be a principal residence, income property, investment property or dealer property. A principal residence is a home that a person lives in.  There can be only one declared principal residence.  It is afforded certain benefits like deducting the interest and property taxes on a taxpayers’ itemized deductions, up to limits.  Up to $250,000 of gain for a single taxpayer and up to $500,000 for a married couple filing jointly can be...

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Water leak detection, read on…

Posted by on Jul 7, 2019 in Home Owner Tips | 0 comments

Check for the Obvious First Aside from standing water in your yard or water running out from under a sink, the first indication that you might have a water leak comes from a larger than normal water bill.  Before calling a leak specialist or a plumber, there is a simple diagnostic you can perform. Go through your home and make certain that all the faucets are turned off and that the toilets have indeed stopped filling the reserve.  Then, go to the water meter and make a mark on the lens where the dial is currently.  If there is water in the meter box, the meter itself could be leaking. If...

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Taxes and the Homeowner

Posted by on Jun 28, 2019 in Home Owner Tips | 0 comments

Whether you’re an owner now or expect to be one in the future, it is important to be familiar with the federal tax laws that affect homeownership.  Since personal income tax was enacted in 1913 with the 16th amendment, homes have had preferential treatment. The mortgage interest deduction is based on up to $750,000 of acquisition debt used to buy, build or improve a principal residence.  In addition to the interest, the property taxes are deductible, limited to the new $10,000 limit on the aggregate of state and local taxes (SALT).  The taxpayer may also deduct interest and property...

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Take A Home Inventory

Posted by on Jan 25, 2019 in Moving Tips | 0 comments

Take A Home Inventory Generally speaking, when you need an inventory of your personal belongings, it is too late to make one.  Sure, you can reconstruct it. But undoubtedly, you’ll forget things and that can cost you money when filing your insurance claim. Most homeowner’s policies have a certain amount of coverage for personal items that can be 40-60% of the value of the home. Homeowners who have a loss are usually asked by the insurance company for proof of purchase. Which can come in the form of a receipt or current inventory of their personal belongings. The most organized...

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Tampa Bays Lighted Holiday Boat Parades

Posted by on Nov 26, 2018 in Florida Suncoast Activities and Attractions | 0 comments

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