For many homeowners, the tax implications of selling real estate can be confusing. Thankfully you reached out to an expert in this area for some clarification. I’m not one to shy away from a challenge so let’s explore these questions together!
What are the tax implications when selling a property? What about capital gains? What if there is debt on the house? Is it better to sell or rent my home first and then buy another? These are all excellent questions that deserve attention. Let me start by saying that everyone’s situation is different, but hopefully, with this blog post, we’ll have a clearer understanding of how to navigate your circumstances moving forward.
So let’s get started!
Visit our website: https://www.rehcpas.com
Ray Halstead and Andrew McMillan are managing partners at REH CPAs in Mooresville, NC. They focus on helping small business owners with their bookkeeping, accounting, taxes, and ultimately allowing them to stay out of their books and in their business.
If you want to speak with someone about your small business taxes, give REH CPAs a call at (704) 662-8249.