Vacation Home Rules – Planning Tips and Opportunities
Articles by: Richey May, Sep 04, 2015
With many people enjoying time away in their vacations homes this summer, it’s an opportune time to revisit the tax rules and benefits related to second homes. Whether you use a second home strictly for personal use or treat it as a rental property, you need to understand how to work these properties to your tax advantage. And don’t forget to consider the impact of selling your property or passing it along to future generations – by planning now, you can ensure a preferential tax position down the road.