5 Must-Do Tax Deductions When Selling a Home

5 Must-Do Tax Deductions When Selling a Home

In 2022 I’m willing to bet most of you spend an absurd amount of time asking yourself ‘are tax deductions when selling a home?’

Of course you don’t. After the past 2 years, you’re just trying to figure out which way is up, how to not get canceled or hoping the kids don’t call you a Boomer for not having a Tik Tok account. Frankly most of us don’t think of this until the time comes or the tax man comes calling. Fortunately for you, and if you’re reading this, there are a few things you can (and should do) to keep your hard earned equity in your pocket after the yard sign says ‘SOLD’.

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'Tax The Rich'... Good Luck

'Tax The Rich'... Good Luck

…What I came to accept is, for better or worse, I had to learn the game I was playing in. By the time I’d gotten to my mid-20s I had done all the stuff they said to do; go to school, get a job, saved some money, even started increasing my income…. That got me no where. My aha moment was a few years into being a Real Estate Agent, essentially operating my own small business. I watched girls/guys that were doing the exact same career and getting ahead. I’m not talking by the typical standard either (driving fancier car, swanky house or fresh threads), I mean they were gaining real assets (rental properties, robust equity portfolios, side companies or growing their business exponentially). So I just finally accepted that my simple work hard, save as much as I could only to get the pants taxes off me at the end of the year was not going to work long run.

My aha moment was when, after several discussions, books and following others on the internet led me to this conclusion:

Taxes are, simply, Incentives from the Government on What They Want Done

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