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Tuesday, October 14, 2014

Staging is deductible as an Advertising Expense for Sellers - get the info from your ASP-ASPM Stagers that attended the IAHSP 2014 Educational Conference

Don't drop your price which is a total loss -
 invest in Staging and be able to deduct the investment
off the proceeds of the sale!

Having just attended our International Association of Home Staging Professionals(R) (IAHSP) Educational Conference one of the key things I brought back for my clients is the following information on Home Staging and tax benefits:

According to CPA Rob Unger of Judelson, Giordano & Siegel, P.C., “Home sellers can benefit from Home Staging, as the fees for Staging services can be considered as advertising costs, according to the IRS guidelines. Since a home Stager prepares your house for potential homebuyers, the IRS considers the service as an advertising expense as long as the home Stager has been hired for the sole purpose of selling your home. The costs of Staging are subtracted from the proceeds of the sale of the home and decrease the total realized profit. In summary, the IRS’ position is that Staging costs are a legitimate selling expense for both primary and secondary homes and are therefore tax deductible.

However, it is important to note that if a house is Staged and then taken off the market, the Staging expenses are not tax deductible.”

** Always check with your own CPA concerning all tax write offs, tax information and the above information as well.