What are the benefits of home improvements when it comes to capital gains tax? How can I ensure that the expenses for renovations will help reduce my tax burden when selling my home?
Home improvements can boost your home’s value, potentially lowering your capital gains tax when selling. To ensure renovations count, keep detailed records of all expenses. Focus on updates that add value, like kitchen and bath remodels. Consult tax pro for guidance on deductions and reporting for maximum benefits.