Those lucky enough to score a prime vacation rental on the Texas coast often consider the possibility of ownership. If you’re thinking of buying a vacation property, here are tax tips to consider: The Internal Revenue Service considers a vacation home or a second home one that is permanently in place ) and offers sleeping, cooking and toilet facilities. This would include not … [Read more...] about Tax Tips To Consider When Buying A Vacation Property
Taxes
Business owners expect windfall after Schlitterbahn opens on Padre Island Corpus Christi
This will be a project that the island, the entire community, will be proud of said Jeff Henry Schlitterbahn. Attractions: Four “Master Blaster” uphill water coasters; Three children’s areas; A “Shoot The Chute” log ride, a first of its kind among Schlitterbahn parks; A “Boogie Bahn” inland surfing ride; Three heated swim-up bars for adults; Two wave pools. The $40 million … [Read more...] about Business owners expect windfall after Schlitterbahn opens on Padre Island Corpus Christi
Post-Housing Finance Crisis Fannie and Freddie 2.0
Fannie and Freddie 2.0: The Senate Does Not Get the Government Out of the Real Estate Market Given that close to 100 percent of the U.S. mortgage market is now backed by the federal government, it is good that the Senate Banking Committee wants to improve it. However, the approach would ensure that U.S. mortgage markets are slightly remodeled rather than completely … [Read more...] about Post-Housing Finance Crisis Fannie and Freddie 2.0
Tax Breaks For Second-Home Owners
Many homeowners look forward to purchasing a second home that can be used for vacations, rental income, investment purposes or as a primary residence during retirement. Current tax laws offer several tax breaks that can help make second-home ownership more affordable. If it's financially feasible, owning a second home can be an excellent investment for vacation or rental … [Read more...] about Tax Breaks For Second-Home Owners