12 Tax Deductions That Can Save Construction Businesses Money
The construction industry has proven to be quite erratic, consistently riding the many waves of the economy. According to a 2018 infographic by EHS Today, $10 trillion is spent annually by construction businesses for construction services. Consequently, construction companies in the country spend top dollar on tax. However, this does not have to be the […]
Federal, State, and Local Programs Offer Assistance to First-Time Homebuyers in the Bay Area
We will break down the programs available to Bay Area homebuyers by looking at such factors as which homebuyers qualify the amount of money available.
Despite Recent Changes to Federal Tax Law, Bay Area Homeowners Often Benefit From Itemizing Their Deductions
The 2017 federal Tax Cuts and Jobs Act (TCJA) increased the standard deduction for federal taxpayers to the point that most U.S. homeowners benefited more from claiming that deduction than claiming the traditional itemized deductions designed to encourage homeownership. But the Bay Area housing market is anything but typical and its high home prices mean […]
How Should Bay Area Property Owners Shield Parent-Child Real Estate Transfers from Increased Tax Assessments?
In 1986 California amended its constitution to allow parents to pass real estate on to their children without subjecting their children to the spike in property taxes that accompanies changes in ownership in areas where real estate values have increased. This is often a significant issue for Bay Area residents who are seeking to pass […]
How Do You Avoid the Capital Gains Tax on the Profits from a Home Sale?
If you live in the Bay Area and sold your home in the last year there is a good chance you sold it for considerably more than you paid for it. Traditionally, you would need to pay the capital gains tax on those profits. Luckily, the federal government provides a home sale exclusion allowing you […]
