Just like the ocean every day, the economic tide is changing. Between the real estate markets, which have strengthened in areas across the country, and favorable interest rates, the idea of owning a vacation home is becoming a reality for many families. There are many tax advantages to owning a vacation home; however first you must determine if your vacation home will be treated as a residence or as a rental property.
The Affordable Care Act (AKA ObamaCare) changed the face of healthcare insurance upon its passage in 2010. At its base, there are insurance mandates. These mandates no longer permit denying insurance coverage due to pre-existing conditions and placing lifetime caps on medical treatment. As generous as these mandates are, they need to be funded. There are two revenue streams created by ObamaCare that fund these mandates.
