If you’re selling your Vero Beach home after you’ve made substantial improvements, known as capital improvements, the money you spent on those improvements could help lower your tax bill when you sell. Tax rules let you add capital improvement expenses to the cost basis of your Vero Beach home. Why is that a big deal? Because a higher cost basis lowers […]

With all the talk about the “Fiscal Cliff” approved by Congress at the 13th hour, little attention was given to a key part of the extension that prevents distressed Vero Beach homeowners from being taxed on forgiven mortgage debt. The exception for “qualified principal residence indebtedness” was created by the Mortgage Debt Relief Act of 2007 and applies to most homeowners […]