A vacation home is a property that people buy for weekend retreats or other vacations. Vacation homes are either rented out when not used by the owner or left vacant. In some cases vacation homes may also be investment properties. Learn about what to consider when buying a vacation home or passing it on as an inheritance.
Avoiding Capital Gains Tax When Selling Vacation Home
Avoiding Capital Gains Tax When Selling Vacation Home Q: We are selling a vacation home. We were told that we should put some of the money from the sale of the property into a 1031 to avoid paying a 28 percent tax on the sale. Is there another way to avoid paying capital gains tax? [...]
How to Navigate New Rental Rules from your Condo Association
How do you navigate new rental rules from your condo association and is it possible to be grandfathered into the old rules? Q: We are buying a vacation condo which we plan to use in the winter months, but also hoped to rent it in other months. We just learned that the condo association has [...]
Buying a Vacation Rental Home: Issues to Consider
Thinking of buying a vacation rental home? Does it make financial sense for your family to use the home, or to use it as an investment? Q: I am trying to figure out if the numbers would make sense for my wife and me to buy a vacation rental house near our home in Atlanta. [...]
Today On The Ilyce Glink Show August 10, 2008
There's a lot to talk about on Today's Show. CDs Are Looking Like A Better Deal Interest rates are starting to rise, which means that CDs are lookin...
National Geographic Camera Bag
Learn about the National Geographic camera bag created by Bogen. The camera bag features real brass buckles and velcro closures and uses materials good for the environment. Find out if the National Geographic camera bag is right for you. The National Geographic camera bag works for many different types of cameras.
Changing Travel Plans Will Cost You
As Ilyce discussed on the Clark Howard Show-- In addition to charging fees for checking bags American Airlines has increased its fee to change ticket...
Primary Residence Means Living There Full Time
In order to be able to take a capital gains tax exclusion when you sell your home, you have to have lived there at least two out of the last five years. This primary residence definition is critical to taking the tax exclusion when you sell. You cannot exclude capital gains from the sale of a vacation or second home.
Timeshares
We had a call this morning on the show about selling a timeshare. You should know a couple of things about timeshares: * Some people like 'em, some p...
Homesteading Vacation Property
A homeowner moved into his vacation home and hopes to avoid capital gains tax when selling the property. If a vacation home has become your primary residence and you want to avoid capital gains, you should wait 24 months after the date you closed on the sale of the primary residence.