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Why homeowners need to track improvements before a sale or inheritance

Why homeowners need to track improvements before a sale or inheritance

As home values rise, the federal home sale exclusion may no longer be enough to eliminate capital gains tax when a property is sold or inherited. The difference between a large tax bill and a smaller one can come down to how well a homeowner documented capital improvements over the years. Keeping a permanent record of qualifying expenses is one of the simplest steps homeowners can take to protect themselves.

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A Conversation on Financial Planning

A Conversation on Financial Planning

Financial planning is a holistic practice that should be done regularly as big life changes happen: 529 plans, estate planning, and tax considerations are only a few of the factors that could be considered during financial planning.

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