Updates + Love Notes

Still smarting a touch from last week's tax bill? Trying to figure out how to make next year’s returns less painful? Maybe we can help a little.

Terrific news, gang: you can buy a rad, historic home AND reduce your tax burden. Sounds like a classic tale, too damn good to be true, but this is real. There are substantial federal and state tax credits that can help offset the cost of renovating historic properties in certain parts of Salt Lake City. The eligibility requirements can get pretty complicated...but we just happen to have a savvy agent on hand with a boatload of experience in this area. Paul Svendsen--whose gorgeous historic remodel below got him just the tax credits we're talking about--has taken several historic properties to task. He's a veritable wealth of knowledge on the subject.

Before tax credits

Credits are available for both commercial and residential properties, and they can be taken by both owner-occupants and investors. The tax savings can really add up (ahem: from 10% to 40%!!!) of your eligible renovation expenses. If you're considering purchasing a historic fixer-upper, but you're concerned with costs, ring us up. If you live in a historic home and have thought about making improvements, do the same. If you're an investor seeking a strategy to generate income and reduce taxes, we'll say it again...get in touch. We'll point you straight to Paul (801.441.8563) and he'll be happy to help you analyze the possibilities (you'll want to consult your tax advisor, too, of course, but we'll get you started).

After Tax Credits

 

Similar Posts

We like to share new stories, and it seems you like to read 'em. Here are some more we think you'll like:
Return to all Stories
Kerri Fukui
Updates + Love Notes
Jan 27th | What We Are Up To
1/26/2023 | Peter Stevenson
The weekend is here and we couldn't be more excited to get out and see the people and places of this great state. We have so many places to experience and we would love to see you wonderful people out there with us. Find out what we are excited about and if we get the chance to see you, come say hi!
Read More
Kerri Fukui
Updates + Love Notes
Collective Clergy | Jeremy
1/17/2023 | Jeremy Chatelain
With several sibling connections and a bit of shared history, the spirit of family runs strong between cityhomeCOLLECTIVE and Jeremy Chatelain. Once upon a time, this native musician left our land of Zion for New York to make his mark as a touring musician and songwriter. Throughout his career, J...
Read More
Kerri Fukui
Updates + Love Notes
Jan 20th | What We Are Up To
1/16/2023 | Peter Stevenson
The weekend is here and we couldn't be more excited to get out and see the people and places of this great state. We have so many places to experience and we would love to see you wonderful people out there with us. Find out what we are excited about and if we get the chance to see you, come say hi!
Read More

Newsletter

Success! We'll get you on the list in short order! You can expect all future Friday mornings to be something of a dream...
a fresh dose of city culture, new listings, and top-shelf design will land squarely on your virtual doorstep.

We need to talk.

It'll be fun. You've got questions, and we can't wait to answer them. Don't hold back--getting down to brass tacks is kind of our thing...


Done. That was probably an excellent question, and we're ready to help. Hang tight...someone at cityhomeCOLLECTIVE will get back to you in a flash.