Construction Tips

Tax Benefit for Home Renovation:

6a00d8345157c669e201901c47cdcf970b-800wi Under the home sale exemption, you do not have to pay capital gains on appreciation of your primary residence when you sell it if your profit is $250,000 or less. Because home renovations increase your basis in your home, they can help reduce the amount of your sale price that is counted as profit, and therefore can potentially help get you under the home sale exemption to avoid capital gains altogether. Even if not, the increased basis will limit the taxable portion of the sale price.  IRS Form 523