Matthew Walsh's Blog
Whether you’re bringing home a new puppy or adopting an adult dog, your new 4-legged friend is sure to be a part of the family. Just as you would when bringing home a new baby, you’ll want to make preparations to your space for both you and your dog’s safety. You don’t want to overlook anything and then have you or your pet get hurt. As a rule of thumb: Anything that you would protect a baby from you should protect a dog from. These dangers include:
- Prescription medications
- Small parts that can be ingested
- Cleaning supplies
- Hazardous houseplants
- Steep stairways
Keep your furry friend healthy and save yourself from costly vet bills by taking precautions. Simple measures can make a big difference. Safety items that you can use to help protect both you and your pet are:
- Power strip covers
- Locks for cabinets
- Keep pills, candy, and chemicals on high shelves that can’t be reached
- Cord wranglers
These little devices can prevent your dog from chewing or getting into hazardous things. It’s also a good idea to protect dogs from steep falls on stairways and decks by blocking certain areas off. Since many dogs don’t know what to keep out of their snouts, you want to think like a dog and know that if they can chew it, they will!
Keep Your Dog Out Of The Trash
Dogs tend to like to see what they can find in the trash. If you get a trashcan that can’t be accessed by dogs, you won’t need to worry. A hidden trashcan in a cabinet or island can help to alleviate this problem. You can also get a can with a lid that can’t be easily popped off.
Keep The Dog’s Access To A Minimum
If your dog is home alone all day while you’re at work you may want to close doors or put up gates in order to restrict the dog to a certain area of the house. This way, the dog will know his place and won’t be able to cause any kind of damage.
Keep Clutter To A Minimum
Clutter is dangerous to both humans and dogs alike. If you know a dog is bound to chew things, put it away! Keeping floors and pathways clean also protects both you and your pet from tripping. Staying organized is also a positive for everyone in the house.
If you always think with safety in mind when you have a dog, you’ll keep both you and your pet safe in your home the whole year through.
If you work from home either full or part-time, you may want to give the home office deduction a go on your taxes. The problem with this deduction is that it can be tricky.
Are You Eligible?
Your workspace needs to meet the criteria for business use. You need to use your work space regularly and as your principal place of business. If you don’t work from home as a self-employed individual, your employer must require you to work from home due to a lack of office space or other circumstances. The keywords in this part of the clause are “exclusively, regularly, and must.”
First, you’ll need to calculate the percentage of your home that’s used for business. This means that if your office is 100 square feet and your home is 1,000 square feet, you use 10% of your home for business. If you own the space you’re living in, you can deduct 10% of the mortgage interest that you pay each month. Keep in mind that you can’t double dip either. This means the amount of mortgage interest that you deduct on other parts of your taxes is reduced. If you rent your home, you’d deduct the percentage off of your monthly rental payments.
Home Office Maintenance
If you own your home, you are able to deduct a portion of your property taxes, insurance, utilities, maintenance, and other expenses that are associated with your home office space. These expenses vary because some are direct such as the expense of you painting your office. Others are indirect. Home insurance applies to your entire home, so you would only apply a portion of that to a deduction. For the direct expenses, you are able to deduct the entire cost.
For the indirect expenses, you’ll go back to applying the percentage of your home that is used for work. This means if we’re working with a 10% figure, you are able to deduct 10% of your utilities, 10% of your home insurance premiums, and so on.
If you rent, you can still deduct many of the same things that homeowners can from your taxes for a home office expenditure. The only thing that you’ll lack as a renter is the ability to write off things like mortgage interest, property taxes, and homeowner’s insurance. Know that you’ll be able to write off a portion of your renter’s insurance.
The Complicated Stuff: Depreciation
You are able to depreciate the value of a home office as your home ages. It’s not always necessary to do this, so you should consult your tax professional before you decide to make this type of deduction. Equipment in your office, such as your computer, can be claimed as a depreciation over time as well.
The important thing when it comes to your home office tax deduction is to do your homework. You don’t want to miss out on important savings!
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Are you an experienced homebuyer? If so, you may be better equipped than others to enjoy a quick, worry-free homebuying experience.
Ultimately, a veteran homebuyer can learn a lot from his or her past experiences, including:
1. How to Avoid Paying Too Much for a House
The housing market offers many opportunities for veteran and first-time homebuyers alike. However, a first-time homebuyer may struggle to pounce at an opportunity to acquire a top-notch house at a budget-friendly price. On the other hand, an experienced homebuyer likely knows what it takes to acquire a house at a price that matches or surpasses his or her expectations.
As an experienced homebuyer, it generally helps to think about how you narrowed your price range when you most recently searched for a home. This experience may guide you as you look to establish a price range for an upcoming house search.
Furthermore, a veteran homebuyer may know exactly what types of housing market data to examine before entering the real estate market. By evaluating the prices of recently sold houses and available residences in cities and towns where you'd like to live, you can use assorted real estate market data to accelerate your home search.
2. How to Get Home Financing
If you struggled to get a mortgage for your first home, there is no need to deal with home financing problems once again. Instead, a veteran homebuyer can allocate the necessary time and resources to get pre-approved for a mortgage and enter the housing market with a budget in hand.
To receive pre-approval for a mortgage, it usually is a good idea to meet with various banks and credit unions. These financial institutions can educate you about myriad mortgage options and help you select the ideal mortgage based on your homebuying needs.
3. How to Differentiate a Buyer's Market from a Seller's Market
Regardless of whether you previously bought a house in a buyer's or seller's market, you can use your past homebuying experience to help you assess the current state of the housing sector. Then, you can map out your homebuying journey accordingly.
If you notice houses are selling quickly at prices above their initial asking figures, you may be preparing to enter a seller's market. In this scenario, you may need to act quickly to acquire a great house.
Comparatively, if you find that homes are lingering on the housing market for many weeks or months, a buyer's market may be in place. In a buyer's market, you may be able to purchase a stellar house at a discounted price due to the sheer volume of houses that are available.
Before you launch a home search, it is important to note that even a veteran homebuyer may need help at times. If you hire a real estate agent, you can receive expert support throughout the homebuying journey. In fact, this housing market professional will make it easy for you to discover a superb house in no time at all.