take charge and reach your goals. owning vs. renting the picpa pennsylvania institute of certified...

13
Take Charge and Reach Your Goals

Upload: eunice-cooper

Post on 11-Jan-2016

216 views

Category:

Documents


1 download

TRANSCRIPT

Page 1: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Take Charge and

Reach Your Goals

Page 2: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

The PICPA• Pennsylvania Institute of Certified Public

Accountants• PICPA is a professional association of more

than 20,000 CPAs working together to improve the profession and serve the public interest.

Page 3: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

HomeIn most cases it’s better to own a home.Benefits of ownership:• Tax benefits• Equity• Stability• Borrowing power

Page 4: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

HomeTax Benefits• Exclusion of capital gain when your house is

sold • Deducting points and closing costs • Home improvements, repairs, and real estate

taxes• Mortgage Interest

Page 5: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

HomeEquity:The portion of property that's actually owned, or equity, also rises over time.

Page 6: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

HomeStability:Know what you’ll owe in years to come.

Page 7: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

HomeBorrowing power:Borrow against your home.

Page 8: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

HomeBenefits of Renting:• Flexibility• Cost• Maintenance

Page 9: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

HomeFlexibility:Pick up and move almost whenever you want!

Page 10: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

HomeCost:Cheaper than owning a home.

Page 11: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

HomeMaintenance:Someone else does your repair work!

Page 12: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

CarBuying or leasing depends on your situation and other options:• How long will you keep the car?• How much do you drive?• How do you treat your car?

Page 13: Take Charge and Reach Your Goals. Owning vs. Renting The PICPA Pennsylvania Institute of Certified Public Accountants PICPA is a professional association

Owning vs. Renting

Questions?