Tax Warrior Chronicles

Millennial Series: Part III Buying a House – What Every Millennial Should Know

Posted on Thu, Aug 10, 2017

By: Melissa Banion, CPA, MT

 

Buying a house will likely be the largest purchase you make in your lifetime.  It is a significant investment and much consideration should go into your decision-making process before executing the transaction.  Yes, it is scary and can be overwhelming if you are not prepared and do not do your homework before jumping in.  Luckily, the Tax Warriors® are here to give you guidance before you contact a real estate agent.

Read More

Making the Best Use of a Vacation Home Under Today’s Rules – Part I

Posted on Thu, Jul 30, 2015

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.

Read More

Papal Visit Inspires Expanded Philly Tax on Short-Term Rentals

Posted on Mon, Jul 20, 2015

Philadelphians are counting down to the 2015 World Meeting of Families, where Pope Francis will make his first visit to the area. This two-day papal visit will bring a record number of visitors into the city and surrounding areas. The latest estimate exceeds 2,000,000 people!  The preparations are extensive; so much so that new legislation has been introduced that may impact you if you are thinking about renting your home to travelers.

Read More