Ways to Save Money

In these hard times, money is hard to come by so you should know how to save it until things get better. Since it is a balancing act that is somewhat challenging, here are a few ways that can teach you how to save money. If you don’t want to lose your home like a lot of Americans have over the past year, you have to kill your debt first. You do that by calculating how much money you spend in a month and then see where the budgets can be made so there is money you can use to pay ...

Five Practical Ways to Save Money for Students

It can be hard to think of ways to save money especially for students since they don’t have their own money yet. This is because at times, for all the expenses while on campus, there is barely left to save. Although it is hard, it doesn’t mean that it is impossible for students to save money while studying. All they need is to develop good time management skills, strict budgeting, and practicality. If you are one of those who are thinking of ways to save money while on campus or even before you enter one, here are some of the ...

Six Simple Ways to Save Money

No matter where you look at it, there will be always ways to save money if the person has the will do so. If you are one of those who are trying to come up with ways to save money in this unstable economy, it is best to start with developing a simple lifestyle. When you are able to do this, the rest will follow. But, if you are one of those who are not sure where to start, here are some eight simple ways to save money. 1. Cut down on grocery or shopping sprees. Although buying groceries is a ...

Save Money Without Feeling Poor

Yes. You are feeling the economic crunch. Times are hard and you are finding it hard to even make both ends meet with the rising costs of basic necessities and the fact that you lost one of the part-time jobs that you are holding. This is the common scenario that people, not only in the US, is feeling. They may not have lost their jobs but they have certainly found it hard to earn extra. Can you blame them then if they look for ways to cut costs and save money? Although it looks like a pretty daunting task, it’s not ...

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Real Estate Investing- Save Money on Taxes

One of the most reliable and profitable investments you can make is to buy real estate. Whether you purchase commercial buildings, residential homes, or so-called "mixed use" property that can function as both a residence and a business location, there are many options and opportunities for a return on your capital.

And there are special government programs designed to facilitate your venture - grant programs for helping fund affordable houses, small business loans for minorities, low down payment options for veterans or active members of the military, and tax breaks for those who renovate and restore historical buildings, to name a few. Just by owning your own home, for example, you are guaranteed certain tax advantages in the form of deductions and exemptions. And those perks perform as "passive" investments, by saving you dollars that you would otherwise automatically part with each year at tax time.

Here are three of the most popular tax benefits enjoyed by homeowners:

Tax-free Capital Gains

If you have lived in your home for two years or more prior to selling it, you can qualify for a 100% exception on the profit you make at closing on your investment, thanks to legislation enacted in recent years. And you can do it as many times as you want - banking tax exempt profits on your home as often as five times a decade.

Mortgage Interest and Property Taxes
Many loans taken out to help pay for a home come with tax deductible interest payments. Yes, consumers would like to see interest rates stay low, because this helps them leverage the loan into equity. But many borrowers fail to realize that as rates rise, so do deductions that are tied to those interest rates. So in times of rising rates, tax deductions related to home ownership help to offset those costs.

Home Improvement Expenses

If you buy a home as a fixer-upper, you may be able to deduct the cost of repairs at tax time. And if you decide to sell the home you're living in, you may be eligible for deductions for things like landscaping, painting, wallpaper, and carpet purchased within a few months of the sale.

And if you want to expand your real estate investment beyond simple home ownership, you can do what many first-time investors do, which is to purchase a home that also doubles as an income-producing property. You can, for instance, buy a duplex and rent half of it while you live in the other half or create an office space in your garage and deduct it as your home office. If you purchase two houses you can live in one while leasing the other one to help pay both mortgages. Or you can simply buy a residence that doubles as a business, as many Bed & Breakfast proprietors have chosen to do. Ask your tax planner to explain the benefits of owning your home or purchasing property for investment income. You may be pleasantly surprised to learn that the benefits are some of the best in the entire tax code.

But keep in mind that investments in real estate are not as limited as they used to be. The traditional options of buying property to live in, lease to others, or barter as a time-share are still viable and practical ways to help grow a nest egg. But there are also numerous other methods for leveraging investments in real estate, and many of them don't even require an actual acquisition of real estate property.

You can, for instance, purchase a mutual fund that invests specifically in real estate assets, and in that way participate indirectly in the real estate market through shareholder ownership of stock. Or you can trade various real estate related options, trusts, and funds, and reap benefits from property equity without ever actually owning any buildings or land.

Whatever investment approach you choose, it is wise to take help from professionals who can assist you along the way. Attorneys who specialize in real estate, tax planners, Realtors, insurance brokers, and building appraisers and inspectors are among those experts who can offer guidance and insight to investors, to help them avoid risks while capitalizing on the potential that real estate offers to both experienced and first time investors.

About The Author

Troy Fullwood, self made millionaire, nationally known investor, real estate guru, speaker and coach; would like to share with you creative ways to building your own "Money Tree." In 1997, Troy founded a company called Pinnacle Investments. The main focus is buying first lien performing and non-performing commercial and residential real estate notes.