Ask a CPA: Selling a House and Tax Deductions

My wife and I lived in a home for more than 10 years. In August of 2014, we moved out and put it into service as a rental. We intend to sell the house when our current tenants move out (their lease is up at the end of August of 2015, but we’ve told them they can move out earlier if they want and they’ve indicated that they may).

How Unmarried Homeowners Do Taxes

The only thing you must do is file together, so you can figure out what makes sense for you both individually and as a team. This is where having an accountant really proves its worth.

Billfold-related Tax Deductions I Might Be Able to Claim, In Order of Whether I Should Actually Claim Them

1. The copy of Rich Dad, Poor Dad that I bought for the Billfold Book Club
2. The cost of the “Jimmy John’s sandwich knockoff” I tried to make for an article
3. The ticket prices for the movies I reviewed as part of my What the Last Four Feature Films I Saw Taught Me About Money series

On Health Care Costs, Second Homes and Taxes

When I first bought my own insurance in ’05 it was actually pretty good—my premiums were about $144 per month, low co-pays, a $500 reasonable deductible and coverage for things like massages, chiropractor adjustments and physical therapy. However prices increased sharply every year after that, and by the end, I was paying $244 with a $5,000 deductible.

Taxing the 2 Percent

This morning, the Times has a very good discussion about the proposed tax rates President Obama will be discussing with Congressional Republicans in the coming weeks, which is part of a larger negotiation of talks about the “fiscal cliff” (if you are bored by that term and still don’t know what that means, here’s a primer).

Lady Buys Her First NYC Apartment

One of the things people who aren’t from New York ask me sometimes is whether or not the rent in New York is really as crazy as they think it is. “Is it really that expensive to live there?”