Feb 05 Selling Your Home? What to Know About Capital Gains Taxes
Buying a home and selling it years later at a higher price can be financially rewarding, but the tax impact of that gain depends largely on timing and how the property was used....
Jan 09 Adjustable-Rate Mortgages: Balancing Risk and Reward
An adjustable-rate mortgage, usually referred to as an ARM, is a type of mortgage in which your interest rate can rise and fall. Because of this, your monthly payment can do the same. ...
Dec 30 Is This Your Situation: Are You Planning Your Commercial Real Estate Taxes?
It’s never too early to think about the tax consequences of decisions you make while building your commercial real estate (CRE) empire. After all, the money you stick in your pocket is what’s left after you hand Uncle Sam his share. You’ll profit more and stress...
Dec 11 The Downside of a Reverse Mortgage
A reverse mortgage is a type of loan open to homeowners age 62 and older. Unlike with a traditional mortgage, homeowners don't make payments to a lender with a reverse mortgage. Instead, the homeowner receives payments. You can choose to receive your payments as a...
Dec 01 Selling Inherited Property: How Taxes Come Into Play
If you’ve recently inherited property and are thinking about selling it, you may be unsure how much the asset is worth and whether you’ll owe tax on the sale. Understanding how the IRS determines value, and how that affects gain or loss, is essential before moving...
Nov 13 Is the Mortgage Interest Deduction a Big Deal?
One of the financial benefits of owning a home is that you may qualify to deduct the interest you pay on your mortgage loan each year on your federal income taxes, something that can reduce your tax bill....
Sep 16 Understanding How Property Taxes Are Calculated and Collected
Property taxes play a vital role in supporting your community’s infrastructure, including funding for schools, road maintenance, public safety departments, recreational areas, and local transit systems. These taxes are imposed by municipal, county, and educational districts, all of which contribute to your total property tax...
Jul 07 New Jersey Real Estate Transfer Taxes: 2025 Update
On June 30, 2025, New Jersey Governor Phil Murphy signed the FY 2026 budget into law, ushering in major changes to the state’s “mansion tax.” Notably, the supplemental fee now shifts from buyer to seller obligation, with a tiered structure for luxury properties. The traditional...
Jan 10 FinCEN Finalizes Beneficial Ownership Reporting Rules for Real Estate
In August 2024, the Financial Crimes Enforcement Network (FinCEN) announced a final rule that is designed to combat and deter money laundering by increasing transparency in the U.S. residential real estate sector....
Mar 02 KRS CPAs Has Joined the BDO Alliance!
We are pleased to announce that KRS CPAs, LLC has joined the BDO Alliance USA, a nationwide association of independently owned local and regional accounting, consulting, and service firms with similar client service goals....