J.K. Lasser's Homeowner's Tax Breaks 2005: Your Complete Guide to Finding Hidden Gold in Your Home (J.K. Lasser)

"Robinson walks the reader through almost every conceivable scenario that could result in a lower tax bill." —Ilyce Glink, Tribune Media Services The 2005 Edition of J.K. Lasser's Homeowner's Tax Breaks reveals a multitude of both well-known and little-known tax-saving ideas that will allow you to put substantial dollars back in your pocket. In fact, it's packed with the largest in-print collection of tax-planning ideas for homeowners. Filled with in-depth insights and practical advice, the 2005 Edition of J.K. Lasser's Homeowner's Tax Breaks will help you: Legitimately take deductions for your household when you have a home office Make your credit card and car loan interest deductible Qualify to exclude up to $250,000 of gains on the sale of your home—$500,000 if you're married Cope with a depressed housing market by getting deductions for renting your home before you sell it Create tax-free income from renovating your home and selling it at a profit Receive charitable deductions for your home while you still live in it Make your home a retirement nest egg that generates tax-free income by trading down or using it for a reverse mortgage Eliminate estate tax on your principal residence by utilizing a personal residence trust There's Tax Money Hidden in Your Home, and This Book Will Show You Where to Find It!

• Legitimate tax strategies any homeowner can use to save on taxes
• Written by a down-to-earth tax expert—so you can easily understand the tax tips presented

Beyond the garden-variety deductions for mortgage interest and real estate taxes, J.K. Lasser'sTM Homeowner's Tax Breaks reveals a treasure chest of tax breaks that any homeowner can use. These include such little-known breaks as getting tax-free rent from a short-term home rental, using the generous $250,000/$500,000 home sale exclusion to shelter gain from the sale of other real estate, and pocketing tax-free mortgage proceeds when trading up to a more expensive home.

J.K. Lasser'sTM Homeowner's Tax Breaks provides a lively, concise, and plain-English explanation of tax rules for homeowners and a discussion of how these rules can be turned to your tax advantage and financial benefit.

Critical coverage will show you how to:

• Make your credit card and car loan interest deductible
• Boost the amount of your casualty loss deductions
• Get deductions for household expenses when you have a home office
• Write off home office equipment such as computers and printers
• Make commuting costs from home deductible
• Create tax-free income from renovating your home and selling it at a profit
• Make your home a retirement nest egg that generates tax-free income from trading down or a reverse mortgage

J.K. Lasser—Practical Guides for All Your Financial Needs

Deductions in year you buy your home Recurring deductions every year you own your home Special situation deductions for homeowners How to sell your home with no tax on gain The high-priced home : how to avoid tax when gain will exceed the $250,000 or $500,000 ceiling When spouses split Little-known loopholes can provide big savings Your vacation home is a tax shelter How to get tax-free dollars in retirement from your home Reducing estate tax on home. Proven tax strategies that any homeowner can use to maximize the benefits of home ownership There are 65 million homeowners in the U.S. and there are almost as many tax savings opportunities offered to them. Beyond the garden-variety deductions for mortgage interest and real estate taxes, J