But Nov. 25 should be celebrated as an Independence Day of sorts, at least by professional athletes ... and probably their fans as well. That's the now forgotten day that baseball player Curt Flood changed sports in this country more than any athlete since Jackie Robinson.
Follow this four-step plan to arrive at the answer. 1. Ballpark the costs. First, get a handle on how much your remodeling dreams will cost. In general, major upgrades, such as a bathroom remodel or a family-room addition, run $100 to $200 and more per square foot. If youâll be using a design pro or remodeling contractor, discuss your project with them to get a rough idea of costs. 2. Figure out how much you have to spend.
In addition to increasing the home's value, you also get to deduct home improvement costs after you sell the home. Deducting improvements effectively reduces your capital gains from selling the home and your tax bill at tax time. Rules If you've lived in the home for two of the last five years leading up to the sale, you may deduct any improvement cost as long as it meets the IRS's criteria. By their standards, the improvement must add to the value of your home, prolong its useful life, or adapt it to new uses..