This post was originally published on Forbes Aug 3, 2015
I didn't expect to learn anything from reading Julian Block's The Home Seller's Guide To Tax Savings. I'm kind of arrogant that way relying on primary sources, but I picked up some important points that had passed me by. The book packs a lot of important information into less than 100 pages. I think that if I had a real estate office, I would be negotiating with Julian to buy copies in bulk to hand to potential clients as a marketing tool. There is something in the promotional piece on the book that trouble me just a bit.
The book discusses law changes that completely altered the way taxes are figured on profits and losses from sales of personal residences. But many owners of houses, condos or co-op apartments, even if they own multi-million-dollar dwellings, misunderstand—or worse, are totally unaware—of those changes. In this situation, ignorance isn’t bliss; it could be disastrous.