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Plain-English notes on deadlines, deductions and running a business in Rhode Island.

Tax TipsOctober 2, 2026

Tax Treatment on the Sale of a Primary Residence: Rules, Exclusions, and Rental Conversion

For many homeowners, the sale of a primary residence qualifies for one of the most valuable tax breaks in the Internal Revenue Code: the Section 121 Home Sale Exclusion. Understanding how the rules work can help you minimize capital gains tax and avoid costly surprises. According to the IRS, eligible taxpayers may exclude up to $250,000 of gain ($500,000 for married couples filing jointly) from the sale of their principal residence

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Tax TipsSeptember 29, 2026

Short-Term Rentals: Tax Benefits, Compliance Requirements, and Key Considerations for Property Owners

The short-term rental market continues to grow as homeowners and investors leverage platforms such as Airbnb, Vrbo, and Booking.com to generate additional income. While short-term rentals can be highly profitable, they also come with unique tax obligations, regulatory requirements, and recordkeeping responsibilities. Understanding these rules can help property owners maximize profits while remaining compliant.

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