Home insurance claim taxable income refers to whether the funds received from a home insurance claim are subject to taxation. Many homeowners wonder if they need to report these funds as income on their tax returns. The short answer is that in most cases, home insurance claim proceeds are not considered taxable income. However, there … Read more
There are three types of home insurance: dwelling coverage, personal property coverage, and liability coverage. Dwelling coverage protects your home itself from damage, while personal property coverage protects your belongings from damage or theft. Liability insurance covers you in case someone is injured on your property. There are many types of home insurance policies available … Read more
No, home insurance is not tax deductible for rental property. The Internal Revenue Service (IRS) only allows taxpayers to deduct the cost of insuring their primary residence and second home, not investment or rental property. If you’re a landlord, you may be wondering if home insurance is tax deductible for rental property. The answer is … Read more
It is important to have adequate homeowners insurance to protect your home and belongings. One way to make sure you have enough coverage is to follow the 80% rule. This rule states that you should insure your home for at least 80% of its replacement value. This ensures that if your home is destroyed, you … Read more
Most people think that basement walls need insulation in order to keep the cold air out. However, there are a few things that you need to take into consideration before deciding if you should insulate your basement walls. The first thing is the climate. If you live in an area with a warm climate, then … Read more
You want your basement to be warm in the winter, but you’re not sure how warm it should be. The temperature of your basement can have a big impact on your comfort and utility bills. We’ll show you how to save money on your energy bills while keeping your family comfortable all winter long. Let’s … Read more
Basement flooding may happen at any moment. It can happen to anybody with a basement, even if they have never had a basement flooded before. Even though flooding is most common after heavy rains or quick snow melts in the spring, it may occur even under dry weather conditions. Some individuals insure their basements with … Read more
Most homes suffer from a blocked drain at some time, and one of the first things many goes for when this occurs is an over-the-counter drain cleaner. We watch commercials on TV promoting the efficacy of a drain cleaner without considering the possible dangers the product may cause to you or the drains and pipes … Read more
Renovating a room may be a time-consuming endeavor. Even if you understand how and where to begin, you may find yourself in a bind when it comes to price and schedule. There are far too many choices in far too many ways. What criteria should you use to choose which one to choose? Skimming or … Read more
Fabric softener is not for making your clothes smell better! You can use it in many different ways. Such as unshrinking sweaters and removing walls. Yet there are some things you should never do with fabric softeners as well. This stuff can do anything from softening clothes to make things smell good in your home. … Read more