Do home improvements reduce tax on capital gains? You can reduce the amount of capital gains subject to capital gains tax by the cost of home improvements you've made to your beautiful Tahoe home. You can add the amount of money you spent on any home improvements—such as replacing the roof, building a deck, replacing the flooring, or finishing a basement—to the initial price of your home to give Continue Reading
Tax Time
Tax break: Private mortgage insurance If you put less than 20% down on your home, odds are you're paying private mortgage insurance, or PMI, which costs from 0.3% to 1.15% of your home loan. But here's some good news for PMI users: You can deduct the interest on this insurance thanks to the Mortgage Insurance Tax Deduction Act of 2019—aka the Setting Every Community Up for Retirement Continue Reading
