Nashua, NH Homeowner Looks to Plan Ahead
When you sell your home, you will owe capital gains tax on any profit that you make. This is the difference between the price that you originally bought the house at and the amount that you get selling the property. If you have been at the property for a substantial amount of time, the taxable amount may be significant. Home improvement projects that add value to the property and / or prolong the home’s life can be subtracted from the sale price, reducing the amount that will be subject to the capital gains tax.