Whether you’re midway through selling your home or have just signed the final closing documents, you may be reeling with worry that your profits will be heavily taxed. If you’re not a tax pro, parsing the deluge of confusing (and often conflicting) tax advice on the web for home sellers is a recipe for a headache at best and some dire tax mishaps at worst. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that you can minimize your capital gains tax — taxes levied on profits from selling capital assets — in two key ways: Keep excellent records of all deductible expenses, and work with a tax professional any year you sell a house. Homeowners have long enjoyed the mortgage interest tax deduction as one of the major benefits of owning a home. No matter how long your house has been on the market, if you have a mortgage on the house you’re selling — and it’s your main house — there’s a good chance you can deduct your mortgage interest from your income taxes. Check out below to see what sold in Turtle Creek in August 2021:
21830 Heatherbrae way S, Novi: 3 bedrooms, 2.1 bathrooms, 2,287 sq. feet, 2.5 car garage, Sold Price: $469,000
Turtle Creek Home Sold
August 2021
For more information on Turtle Creek, or similar Northville or Novi neighborhoods such as Roma Ridge, Dunbarton Pines and Maple Hill, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.