How To Report A Gain On The Sale Of A Second Home
5 October 2017
Because of a special provision in federal tax regulations, many individuals pay no income tax on a profit from the sale of their main residence. In addition to a main home, however, some individuals also own a second residence. Unlike the gain realized on the sale of a main residence, a gain realized on the sale of a second home may be fully taxable.
The tax code allows individuals to deduct interest on two homes, as long as the combined mortgage balance is $1 million or less.
Simple Ways To Improve Your Accounting Skills And Land A Better Job
26 September 2017
If you're a new accountant, you may want to possess as many skills as possible to impress potential employers. Finding a decent job that allows you to earn a great income for the work you can complete is important. If you're not satisfied with the position you have now, you may want to apply to positions that pay well and offer better benefits. There are several ways to improve your chances of getting hired by a great company: