As we approach 2025, the IRS has announced several key inflation-based adjustments that will impact a broad range of taxpayers. Here’s a breakdown of some of the primary changes: Standard Deductions Single and Married Filing Separately: The standard deduction increases to $15,000, up by $400 from 2024. Married Filing Jointly: For couples filing jointly, the […]
6 Red Flags to Watch for Before Buying Your Dream Home
Unlocking the Power of Home Appraisals: 5 Ways They Benefit Sellers
Home appraisals offer several benefits to sellers, helping them make informed decisions and potentially maximize the value of their property. Here are the top five benefits of home appraisals for sellers: 1. Accurate Pricing: An appraisal provides an objective and unbiased assessment of your home’s current market value. This ensures that you set a competitive […]
Navigating Climate Risks in Real Estate: Expert Tips for Homebuyers
The increasing impact of natural disasters and climate change has introduced new challenges to the world of residential real estate. According to a recent CoreLogic article, the effects of natural catastrophes on property portfolios, homeowners, and communities are a growing concern. Zillow reports that more Americans are now considering climate risks and their potential […]
Smart Planning: How IRS 2024 HSA Limits Affect You
In their latest update, the IRS has adjusted the health savings account limits for 2024. For self-only coverage, the minimum annual deductible is set at $1,600, while for family coverage, it’s $3,200. The annual out-of-pocket expenses shouldn’t exceed $8,050 for self-only coverage and $16,100 for family coverage. Individual deduction limits are $4,150 for self-only […]
The Benefits of Tax Credits for Enhancing Your Home’s Energy Efficiency
Thanks to the Inflation Reduction Act of 2022, homeowners can now take advantage of tax credits aimed at promoting energy efficiency, clean energy adoption, and the retrofitting of heating and cooling systems. The energy-efficient home improvement credit has received a significant boost, now offering a credit of $1,200. This is a substantial increase from […]
4 Red Flags of Overpriced Properties to Keep an Eye On
When searching for a property to buy, it’s important to ensure that you’re getting a fair deal. However, some sellers may overprice their properties, leaving buyers wondering if they’re paying more than they should. To avoid overpaying, it’s essential to be aware of these red flags of overpriced properties: 1. It’s been on the […]
Top Tips for Buying a Home
Buying a home is an important life decision. Make sure you consider these important tips before you buy: 1. Look at your finances and decide how much you can afford. 2. Make sure to physically inspect the home and property for potential fixes and hazards. 3. Tour the neighborhood at different hours to get a […]
Prepping Your Home for Sale
Follow these tips when preparing your home for sale: Stage each living area to help potential buyers imagine living in that space. Keep all rooms clean, including children’s rooms. Remove clutter and extra furniture to help the space feel cleaner and larger.