With the right knowledge, information, and patience, you can completely avoid paying taxes on the gain from the sale of your home (or a rental property or vacation home) — stick the gain in your pocket and thumb your nose at Uncle Sam. How It Works Under current tax rules you are allowed to sell a […]
Think your property tax bill is too high? If so, it might be a good time to check on your assessment! The county assessment is the basis from which property taxes are derived and the groundwork for your tax bill. In Ohio, county auditors are required to do a full, general reappraisal once in every […]
Are you planning a move for a new job? Are you relocating to find a new job? Are you moving and self-employed? Good news: If you meet any of these criteria, you may be eligible to deduct your moving expenses. Few people realize how generous the rules are about moving expenses and often overlook this […]
If you put down less than 20% on a house, expect to be required to purchase private mortgage insurance or PMI, which protects the lender in the event you default on your mortgage. PMI premiums on a median priced home ($285,000 in 2019) can run between $50 and $100 per month. PMI might be unavoidable, […]
Home owners who are eligible to deduct private mortgage insurance, or PMI, premiums can shave hundreds of dollars off their income tax bills. If you put down less than 20% on a home, expect to be required to purchase private mortgage insurance, which protects the lender in the event you default on your home loan. That’s […]
You might not think too hard about your real estate assessment, the dollar value the local government puts on your property value (house and land). You should as the assessment is the determining factor in how much you pay on property taxes. If you have a mortgage, your home lender is probably paying your property taxes out of an […]
Rates of Taxation Annually, the Auditor prepares the General Tax list and duplicate. Your property tax bill is based on the tax rate multiplied by your valuation on this duplicate. This is your proportionate share of the cost of operating your local government including Schools, Townships, Villages, and the County. Ohio law limits the amount […]
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