Month: September 2015

Home or Business? Tax Benefits from a Second Real Estate Purchase

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Buying a second home in great vacation locations like Myrtle Beach, SC can be a very good investment. Some people would rent out their second properties for most part of the year as a source of income, while others simply just drive down to their beachside houses for a quick weekend getaway. Whichever your reason is for your second real estate purchase, the move can certainly be a beneficial one, particularly when you consider the tax benefits. Here are some of them:

If Used as a Personal Property:

If you don’t rent out the property, you can enjoy the following tax benefits:

• Mortgage interest – Interest on the second home mortgage can be deducted, as with interest on your primary home mortgage. The total amount of your debt (for both primary and secondary homes), however, must be within $1 million.
http://www.chicora.com/default.cfm/page/blog/blogid/9ea17bda-7417-44ca-8c4007ba0b0ea244/cat/entrydisplay/entryid/0b7e583c-4b06-4ca4-95796bfc2d1a0e2b.htm

Living in Oceanfront Condos May Hold the Secret to Being More Creative

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For many centuries now, people have always been attracted to living near the sea—or any body of water for that matter. Some are attracted to the pushing and pulling of waves, others to the open blue water, and some to the calmness it gives. There are those who would try to explain this attraction through science – negatively charged ions affecting the body’s serotonin levels; while other explanations are borderline pseudoscience – a need to connect with nature. Whatever the true reason may be, it can’t be denied that the being near a body of water is relaxing and rejuvenating.

According to Zenhabits.net, creativity can be enhanced in two ways. The first is through solitude, and the second by social participation – two things that you can achieve by living at oceanfront condos in Myrtle Beach.
http://www.chicora.com/default.cfm/page/blog/blogid/9ea17bda-7417-44ca-8c4007ba0b0ea244/cat/entrydisplay/entryid/cc8159cc-3870-4950-afc4b1c31dcabf91.htm