How Home Renovations Affect Your Taxes
As a homeowner, taxes can be confusing. Here are a few tax credits and deductions that you may qualify for. Selling Your Home Although home improvement costs are considered a personal expense that cannot be deducted from your taxes, they still have a tax benefit by adding to your home’s tax basis and reducing the amount of taxes owed when you sell your home. Allow us to explain. A tax basis is the amount you subtract from the total sales price of your home to determine your p
