Greetings, Jody Goren &. Here are your articles for Thursday, September 17, 2015
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Jody Goren & Marilyn Rubinstein
Jody Goren & Marilyn Rubinstein
www.jodygoren.com
(301)674-7737
jodygoren@gmail.com
11300 Rockville Pike
Rockville, MD 20852
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4 Great Benefits For Vacation Homeowners

 

Having a second home at your favorite vacation spot offers many of the same benefits you get from owning your current home. But you also get some unique financial and family benefits, too:

Rental income

When you buy a home in a popular vacation destination, you may be able to rent it on a short-term basis to other vacationers. That rental income can help you cover the costs of your vacation home.

Tax benefits

You may be able to deduct the mortgage interest and property taxes you pay for your vacation home. Or, if you turn it into a rental, you may be able to use your expenses to offset your rental income. Consult a tax adviser to see which tax rules and laws apply in your particular situation.

Home Equity 

Over time, the value of your vacation home may increase giving you equity in your vacation home. As you pay off your mortgage, you’ll also build equity you can cash in to fund retirement, college expenses or to start a business.

Family togetherness

Having a free place to stay at the beach or the mountains is a powerful lure that draws family and friends to visit you.

Considering buying a vacation home? Contact me and I'll show you what's available in our market or refer you to someone I trust in your vacation destination city.

 


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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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