Thinking of selling your house?
With the housing marketing starting to revive in California, we’re seeing an increase in people asking about house sales and whether or not they would incur a gain if they sell a house. In this quarter’s newsletter sent to our clients this issue is raised. In our Quarterly tax newsletter, the answer is discussed and unfortunately it’s a “it depends”.
If you used part of your house for business, you may end up with a small gain on the portion of home used in business. Concerned? We can determine ways to minimize the tax.
Contact one of our CPAs such as Ken Awbrey at 559-252-8585 and will walk you through your options.