The Best Spring Home Updates!

Last Minute Information For Tax Preperation

Home Office Tax Deduction Made Simple for 2013

If you use part of your home for your business, you may be able to deduct expenses for the business use of your home. The home office tax deduction is available for homeowners and renters, and applies to all types of homes.

The best part is that the IRS has now simplified the method for determining the home office tax deduction.

But do you qualify for the simplified deduction?

Requirements for Business Owners

If you own your business, there are two basic requirements for your home office to qualify as a tax deduction:

Regular and exclusive. You must regularly use part of your home exclusively for conducting business. For example, if there's an extra room in your house and you use it solely to run your business, you can potentially claim a home office deduction for that extra room -- but it must also be your principal place of business.

Principal place of business. Your home office does not need to be your only place of business. But your use of your home office must be "substantial and regular." You can get the deduction for separate free-standing structures (such as a studio, garage, or barn) as well as for a space in your home you use regularly for a business purpose (for example, for consultations), even if you also conduct business in another location.

Requirements for Employees

If you're an employee and use part of your home for business, you may qualify for a home office tax deduction if you meet the following requirements:

You meet the same requirements stated above;

Your business use must be for the convenience of your employer; and

You are not receiving rent from your employer.

What Is the 'Simplified' Option?

Small business owners may be tempted to use the IRS's new simplified method for calculating the home office deduction. Here's how it differs from the regular method:

You can claim a standard deduction of $5/square foot, with a 300-square-foot maximum (instead of determining the actual percentage of your home used for business);

You can claim your home-related deductions in full; and

There is no home depreciation deduction, nor can depreciation be captured for the years the simplified method is used.

For additional guidance on the home office tax deduction, you may want to consult an experienced tax attorney in your area.

Source: Findlaw.com.
Judy Gratton Your Real Estate Edge

Time For Spring Cleaning!

The Family Dog: What's the Best Breed?


A family with kids ideally needs an intelligent dog with a good temperament and a moderate energy level. While many breeds may fill the bill, veterinarians say, some breeds may be singled out for their willingness – even eagerness – to behave well with children.
Here are the up and down sides of some of the best breed choices for families with young kids:

• Labrador or Golden Retrievers – Energetic, patient, and affectionate, these are great family dogs, though they can get a bit hyperactive if not exercised regularly.
• Poodles – Poodles are very smart and have a great temperament, and you can choose one from a variety of sizes. They do require regular grooming.
• Bichon Frise – These little cotton-ball breed loves to play and rarely gets hyperactive. It’s a small dog, good for little ones, but it does need regular grooming.
• Beagles – Known to be friendly, clever and good with kids. Some tend to be high-strung, although they respond very well to training.
• Cairn Terriers – These active little dogs seem to have a natural affinity for kids. They can keep up with them and tolerate just about anything and still remain gentle.
• German Shepherds – They are extremely loyal and protective and they have a playful side, but they need to be well-trained to maintain best behavior.
• Collies and Shetland Sheepdogs – These breeds are calm, gentle and tolerant, perfect for kids of all ages and sizes.
• Newfoundland – Sweet and good-natured with kids, Newfoundlands are sometimes called “Nature’s babysitters.” They want to live indoors with the family, but be prepared for drooling and shedding.
• Irish Setters – These redheads are playful, energetic, love being around people, and play well with children. They need space and lots of exercise – a good match for energetic kids.
• Mixed-breed dogs – Most mutts are typically well-balanced and intelligent and make good family pets.

Judy Gratton Your Real Estate Edge

Reprinted with permission from RISMedia. ©2014. All rights reserved.

Zuzu                                                                               Molly

Our Tibetan Spaniel                                                                                      Our Rescue Taiwan Dog

 

Here's why buying now is important.

The thing that many people don't seem to really understand is that for every little bit the interest rate ticks up, and homes appreciate in value buyers are losing the amount of house they can purchase at a given amount. 

A lot of people say they want to wait and save for more money down.  But if homes appreciate even 4% in a year you would have to save that much more than you thought you would to buy the same house.  

For example:

You want to buy a $400,000 house and you don't want to pay mortgage insurance.  So, you want to get a conventional mortgage with 20% down.  Today that would be $80,000,

but next year at 6% appreciaton that house will be worth $424,000.  You've been saving for a down payment of $80,000- now you need $84,8400.00.  And that doesn't even take into account the loss of buying power when the interest rate goes up- and it is going up.  

So, when is the time to buy?

NOW!  There are so many programs out there to help you get into a home with little or no down payment.  Call me- I can help!

Tips for Buying in a Competitive Market

Barbecue Season Is Coming!

Latest Trends Heat Up Barbecue Industry As the May-September peak outdoor cooking season approaches, consumers can expect to see grills, smokers and outdoor living products in high demand. The trends that will drive sales during 2014 and beyond include: Wood Pellets on the Rise: Made from compressed sawdust, wood pellets are heating up grills and smokers across the country. An all-natural product, wood pellets produce a strong, slow-burning source of heat that gives a unique, smoky flavor to foods. This year, new wood pellet grills and smokers are making it easier to cook outdoors no matter what time of year. Wood pellets grills and smokers use a variety of pellet forms to create different smoky tastes, all with a simple and easy cleanup process. Portability: Whether tailgating for the big game or cooking on the beach, portable grills and smokers make it easy to cook delicious foods wherever you want. Industry manufactures are making it easier to take the party anywhere—from parking lots to campsites—by making light-weight and durable grills and smokers. Collapsible, small portable parts and all-terrain features make it simple to cook and smoke foods on-the-go. Ovens in the Outdoors: New innovations are making it easier to do anything you can do inside, outside. With outdoor gas and wood-fired ovens, cooking enthusiasts can make a pizza, roast vegetables, bake desserts, and more all from the convenience of the backyard. Outdoor ovens provide an extra cooking space during the holidays, and allow families to cook their favorite dishes while enjoying the outdoors any season of the year. Keeping Accessories Organized: When entertaining in the outdoors, it's important to have everything you need right at your fingertips. New innovations such as countertops with drawer storage and drink coolers make it easy to enjoy any party outside. With full sinks, refrigerators and lighting, you can bring all the amenities of your indoor kitchen, outdoors. Source: Hearth, Patio & Barbecue Association Judy Gratton Your Real Estate Edge

Now is the time to sell your home for the highest price. Really!!

If you are thinking of selling, now is the time to get the highest price!

Call or text me for more information– 206-276-3289

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6 Basic Home Maintenance Tips

6 Basic Steps to Home Maintenance
 


Moving into your first home can be a proud and thrilling experience – and painting and decorating in your own time and your own style is certainly part of the thrill. But new homeowners may not think about maintenance until something clamors for attention.
To protect your investment, keep your home in good shape, and minimize emergency repair costs, a panel of home maintenance experts recommends the following:
Know the control points – Know the location of the main water valves and electrical circuit boxes. (The information may come in handy later.) Check your home and grounds regularly for water leaks, poor air flow, any signs of mold or mildew, or even peeling paint.
Take a class – Many home improvement stores and some adult schools, offer free or low-cost classes in home maintenance. Having a check list will make it easier to stay in control, and knowing how to do basic fixes will save you money in the long run.
Assemble a tool kitp – For small repairs and general maintenance, put together a basic tool kit. At minimum, you should have a hammer, screwdrivers, wrenches and pliers, as well as a utility knife, a retractable tape measure, a level, a small drill set and a roll of strong electrical or duct tape.
Keep a calendar – It will help you remember regular maintenance chores such as changing the batteries in your smoke detectors and/or changing furnace filters.
Have a maintenance fund – Nothing lasts forever, and that includes appliances like water heaters and furnaces as well as carpeting and furniture. You will sleep easier if you keep a savings account for emergencies and cosmetic repairs or replacements.
Know when to call in a pro - Electricians and plumbers contractors are licensed because they do potentially dangerous work. Don’t try to work on your furnace or clear out backed-up plumbing or re-wire a circuit by yourself. Call in a contractor or licensed handyman when needed.

Judy Gratton Your Real Estate Edge