Titus as a tax write off for GA sellers 🍑

The best ideas often come from customers. Recently, during a conversation with a top Atlanta broker, there was excitement about using Titus not just to improve a home, but to also increase the tax write-offs a seller can claim after selling.

When selling a home, a married couple can generally exclude up to $500k from federal capital gains tax. However, in Georgia, capital gains are treated like income and taxed at a rate around 5.49%.

However, when a seller spends against the home, this can be added to the homes cost basis which is not taxable.

Titus helps sellers save on taxes by categorizing all sale related expenses into a simple PDF the seller can give to their accountant. This can be a lot of money! We can help a seller spending $15,000 actually save over $800!.

Here’s an example calculation:

Would love to hear people’s thoughts on this issue. Is this a feature that you think would be appealing to your clients?

Nick