Though homeowners could easily roll home sale profits into a new home in the past, provided the new house is worth more than the previous one, that isn’t the case now. Due to the astronomical jump in home prices, you may incur an unexpected tax bill on this capital gain. In this case, having an accountant can guide you on how capital gains taxes affect a sale. For example, how home improvements you might have paid for increased your cost basis and lowered your tax liability. Jean Etienne at Sambo Okolo can expertly help guide you through understanding your capital gain and the ensure adherence to the latest tax regulations.
117
Powered by FlippingBook