Let's Talk Real Estate

In light of COVID-19 crisis, the IRS has extended the income tax payment and filing deadline for individual  and business returns from April 15, 2021, until May 17, 2021. This relief does  not  apply to estimated tax payments for tax year 2021 that are due on April 15, 2021. You don’t need to file additional forms to qualify for this extension. Now that you’re a homeowner, your taxes may have gotten more complicated.  And you may be asking yourself, “Do I need an accountant?” And if you do, should you hire a certified public accountant (CPA)? And what’s the difference between a CPA and an accountant? Plus, you may be one of many people who worked from home last year because of COVID-19 and wonder if you can deduct some of your home office-related expenses. Or you may have moved out of state or tapped into your 401(k) for supplemental income. Here is some information to help you: The Differences Between Tax Experts and Other Options First you need to know there are different types of t

Hosting has its shares of anxieties, especially if you're striving to make your home welcoming. How do you know everyone will feel comfortable? And will you ever get a chance to relax yourself? You will if you focus on what's really necessary. Here's a list of steps to get your home ready — and take the stress out of hosting. #1 Declutter The day before guests arrive is no time to pull apart junk drawers and clean out linen closets. Declutter your home, especially the guest rooms and public areas -- foyer, kitchen, living room, den, and dining room. Remove anything unnecessary from countertops, coffee tables, and ottomans; if it’s out of sight, keep it out of mind, for now. If you run short of time, bag up the clutter and store it in car trunks, basements, and out-of-the-way closets. Sort and arrange after your guests depart. #2 Add Night Lights Even though you can navigate your home blindfolded, your guests can’t. Make sure outside lig

For one thing, they're less breakable than other lights. Yes, LED holiday lights save energy. Up to 75% less energy than the old-fashioned kind, according to the U.S. government’s Energy Star program. But there are more advantages to LEDs than energy savings. Here are 5 other reasons to switch to LED Christmas lights. #1 They're More Durable They don't have filaments or glass, so they're less likely to break or be damaged as you string them up and down. #2 LED Holiday Lights Last and Last LED bulbs can keep your season bright for as long as 100,000 hours, says Cathy Choi, president of Moonachie, N.J.-based Bulbrite, which manufactures LED and regular bulbs. That’s substantially longer than the life of your old holiday light strings. #3 You Can String a BIG Strand of Lights Safety wise, you shouldn’t connect more than three traditional light strings, but you can connect at least 10 with LEDs and up to 87 in some cases, totaling a

When the last of summer's heat is a faint memory, and you're pulling out your hoodies more than your shorts, it's time to tackle a few simple chores that'll make winter more pleasant and prevent some nasty surprises next spring. This fall checklist will help: #1 Clean and Stow Your Mower If you’re not familiar with fuel stabilizer, get to know it. If your mower sits for months with gas in its tank, the gas will slowly deteriorate, which can damage internal engine parts. Fuel stabilizer ($10 for a 10-ounce bottle) prevents gas from degrading.Add stabilizer to your gasoline can to keep spare gas in good condition over the winter, and top off your mower tank with stabilized gas before you put it away for the winter. Run the mower for five minutes to make sure the stabilizer reaches the carburetor. Another lawn mower care method is to run your mower dry before stowing it. 1. When the mower is cool, remove the spark plug and pour a capful of engi

8 Easy Mistakes Homeowners Make on Their Taxes Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit. Read Copyright 2018 NATIONAL ASSOCIATION OF REALTORS®

How Long to Keep Tax Records: A Checklist For most tax deductions, you need to keep receipts and documents for at least 3 years. Read Copyright 2019 NATIONAL ASSOCIATION OF REALTORS®

Filing Taxes After Divorce: Tips for Homeowners Some divorcing homeowners end up with unanticipated tax bills when they sell their home. Find out how you can avoid being one of them. Read Copyright 2019 NATIONAL ASSOCIATION OF REALTORS®

Are Closing Costs Tax Deductible Under the New Tax Law? Here’s the scoop on what’s tax deductible when buying a house. Read Copyright 2019 NATIONAL ASSOCIATION OF REALTORS®

Tax Deductions for Homeowners: How the New Tax Law Affects Mortgage Interest By: Leanne Potts Tax changes for 2019 change the landscape for homeowners.  Tax season is upon us once again, and to make it even more interesting this year, the tax code has changed — along with the rules about tax deductions for homeowners. The biggest change? Many homeowners who used to write off their property taxes and the interest they pay their mortgage will no longer be able to. Stay calm. This doesn't automatically mean your taxes are going up. Here's a roundup of the rules that will affect homeowners — and how big of a change to expect. Standard Deduction: Big Change The standard deduction, that amount everyone gets, whether they have actual deductions or not, nearly doubled under the new law. It's now $24,000 for married, joint-filing couples (up from $13,000). It's $18,000 for heads of household (up from $9,550). And $12,000 for singles (up from $6,500). M