Dale  Largie, CPA, SFR

Dale Largie, CPA, SFR


License #: SL3422389


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Real Estate Tax Deductions

It's been a while, but all for good reason. Among many other of life's demands, my pursuit to provide you with value continues. I decided to pursue a certification in Short Sales and Foreclosures (SFR). 

Some homeowners will experience challenges along the way. While those challenges may appear to be cripplingly unwelcomed, all is not lost. Realtor Largie can help mitigate those losses and help you through these tough times. Let's talk!

Home prices! Wow! Did you notice the price of real estate increasing? Of course you did! Did you sell? If so, you probably made a lot of money.

HINT: Call your CPA and discuss tax implications NOW! Don't wait until the year is over and say, "Oh, I forgot to tell you. I sold my house for $1.5M that we both for $400K." He or she will probably say, "Congratulations! Let's talk about how much you may have to pay in taxes." Of course, Realtor Largie is a CPA, so you and I would have that conversation automatically.

With all the talks about the soaring home prices, inflation, recession, and the like, the real estate market could have significant tax implications for all stakeholders. It’s best to talk to your CPA and plan ahead, as the lack tax planning could cost you (seller) a lot of money.

Always remember to keep good records. As the ‘tables turn’ on the sellers’ market, here are some tax benefits that you should consider:
Deductible Expenses

  • Staging, escrow, agent commissions, advertising, legal fees, seller-paid expenses, etc.
  • Improvements, repairs, etc.
  • Property taxes paid
  • Interest paid
  • Capital Gains exemption

Non-Deductible Expenses

  • Insurance (other than mortgage insurance premiums)
  • Wages you pay for domestic help
  • Depreciation
  • Utilities
  • HOA Fees
  • Repairs to Home

Naturally, this can be more complicated. For example, what if suddenly a professional athlete decides that you’re their CPA? It will be interesting to say the least to navigate their affairs optimally. 

On The Horizon: First Time Homebuyer Program

  • First Time Homebuyer Tax Credit is currently no longer available, but Congress is making efforts to introduce a new tax credit of up to $15K!
  • Fingers crossed!

Have Questions?

Featured Listing

3204 Altimira Dr , Fort Myers, Single-Family Home,  for rent, Dale Largie, CPA, SFR, LIFESTYLE INTERNATIONAL REALTY

Move-In-Ready! Welcome home to your generous 5 bedrooms, 4.5 bathrooms, 3-car garages with 3 additional parking spaces, His & Hers closets, luxurious spacious kitchen, elegant bathrooms, enclosed lanai and a capacious backyard with a lake view. Wow! Your new home features three (3) en suites, one on the first floor with it's own private entrance. The other two (2) en suites are on the 2nd floor with two (2) additional bedrooms in your warm and welcoming Sorrento model home. Your new Sorrento model home is the largest in the Portico community and a delight to the visual senses as you approach. Post photo additions or installations include fenced in backyard, ceiling fans, epoxy floors in garage, gutters, and blinds. Absolutely gorgeous! Amenities include large swimming pool with lap lanes, fitness center/gym, full size tennis court, basketball court, pickelball court and playground for the young world. The Portico gated community is close by to schools & universities, hospitals & medical centers, shopping malls, dog park, everyday shops and other attractions. VACANT! Move-In-Ready! On iSupra! Easy to Show! Call listing agent BEFORE completing an application.

View 3204 Altimira Dr