Whether you’re saving for a home, have purchased, renovated, rented out, or sold your place, here are some tips that could put more money in your pocket when you file your tax return
My son, Win, and his wife, Sarah, got married last summer and moved into their new condominium. They’re learning about home ownership through renovations they’re doing. Win texted me this week: “Dad, I need a front door for my hall. The replacement I bought was too tall. So, I hacked it and chopped it, and carefully lopped it, and now the dumb thing is too small.”
Home ownership can be frustrating and expensive – as Win and Sarah are discovering. But whether you’re saving for a home, or have purchased, renovated, rented out, or sold your place, here are some tips that could put more money in your pocket when you file your tax return this year.By now you’ve no doubt heard about the tax-free First Home Savings Account, which allows a first-time homebuyer to sock away up to $8,000 annually .
Tim Cestnick, FCPA, FCA, CPA, CFP, TEP, is an author, and co-founder and CEO of Our Family Office Inc. He can be reached at
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