Real Estate Blog
Local events & happenings in Brentwood, TN
New to the Brentwood, Tennessee area and searching for neat things to help you explore our great city, or just looking for something to get the family out of the house? Here are a few upcoming events that will do just that!
Under the Sea! Visit the Schermerhorn Symphony Center for this underwater adventure. Keep a watch out for mermaids, creatures of the deep, pirates, sharks and shipwrecks as the Nashville Symphony travels under the sea! Expect lots of aquatic sounds, including Debussy’s La Mer, Handel’s Water Music, The Little Mermaid, Pirates of the Caribbean and much more. Arrive early for pre-concert activities, which start one hour before show time! Activities are appropriate for all ages and include crafts, stories and Instrument Petting Zoo.
Sundaes with Friends, this is a fun ice-cream filled fundraiser for the Monroe Carell Jr. Children's Hospital at Vanderbilt. It features a behind-the-scenes glimpse of a runway show (featuring kid-friendly styles), a walk down the runway, a sundae bar and more. This event is more appropriate for girls ages 5 and older. Visit the website, registration is required.
Family Fun day @ the Frist Center for the visual Arts. If you are a new to the area, the Frist Center for the Visual Art is an amazing local treasure and a must see. Sunday from 1-5 pm, FREE admission. Families can see the new exhibit, Exploring Art of the Ancient Americas: The John Bourne Collection, and enjoy other activities like storytelling, art making, music and dance.
Need some warm weather inspiration, and a reminder it’s 5 O’clock somewhere? Head to the Bridgestone Arena for a concert with legendary, Jimmy Buffet and his Coral Reef Band. Parrot heads unite!
Tax implications of real-estate
We just thought Spring was around the corner…. Hopefully our weather here in Brentwood, TN will turn around soon, and our temps will reflect that we are almost in April! But with Spring, comes the (oh- so joyous) task of tax preparation.
The tax implications of Real Estate are large, especially for those who are unaware of how refinancing, owning rental property or even staying a renter yourself, can apply to them long term.
It is important to check with your tax advisor before any real-estate transaction or refinancing. This is due to the fact that it potentially lowers the mortgage interest you can claim on your federal taxes, which in turn can raise your tax bill and yield a very unpleasant surprise when filing.
Capital gains taxes can be a minefield, so going in prepared and knowing how to navigate owning property can relieve the headaches of an unexpectedly large tax bill. Selling an income property or even renting out your home for short periods of time have income liabilities as well. Prepare by researching local city and state tax laws to see how this affects you on all levels.
Don’t just save receipts for tax time, make sure to save them for your realtor! The money you invest in remodeling can impact the amount of money the IRS considers profit when selling your home. Also, don’t forget the energy saving credits you might be earning by replacing older AC units, windows, insulation etc. These can potentially lower your tax bill.
The scenario of homeownership isn’t appealing to everyone, but at some point as your income increases, speaking with your tax advisor might be beneficial to your taxes. Mortgage interest can potentially offer potential tax relief that can offset your increasing income level.
To read more on this check out the entire article on:http://www.trulia.com/blog/taranelson/2013/03/4_real_estate_moves_with_surprise_tax_implications?ecampaign=cnews201303C&eurl=www.trulia.com%2Fblog%2Ftaranelson%2F2013%2F03%2F4_real_estate_mo