March 18, 2017
I am so thankful to have attended the IAHSP 2017 Conference and Expo in Fort Lauderdale last month! Our days were packed with information shared by experts in the Home Staging Industry. I am excited to put into practice the successful business strategies, current trends in Home Staging, and Color Basics theory that I gained from this experience! I plan to share some great take-aways with you in upcoming News Posts, so check back often.
IAHSP is focused on professionalism and camaraderie of the members and seeks to help guide the Home Staging Industry with standards for ethics, education and excellence. The new IAHSP leadership team (Sandra Holmes, Jennie Norris, Bette Vos, Lyn Spaeth) has expanded the reach of IAHSP to include colleagues of approved industry designations from all over the world! It is a very exciting time for the Home Staging Industry and also important to recognize the vision of Barb Schwarz, The Creator of Home Staging®, Founder of Stagedhomes.com, the ASP® and ASPM® Courses and Designations, and The IAHSP® Home Staging Association.
Thank You, Barb!
Can having your home Professionally Staged for Sale qualify as a capital gains reduction?
According to IRS guidelines, a Professional Home Stager's fees can qualify as advertising costs and can be subtracted from the realized profit on the sale of either a primary or secondary home, provided that the stager was hired for the sole purpose of selling the house.
When professionally staging a vacant home for sale, the costs of renting furniture and accessories are also allowable deductions, as they are rented specifically to advertise the home and are returned following the sale of the home.
For your records, be sure to retain your copy of the home stager's paid billing invoice. As the home staging is allowable for advertising purposes, ask your realtor to market your home as "professionally staged," and keep a copy of your marketing materials and photos filed with your tax documents.
Improvements or updates made to the home are Not tax deductible, even if suggested by the home stager.
Be sure to consult with your accountant or other tax professional regarding these deductions. The IRS
Publication 523 “Selling Your Home” is available online. Allowable deductions can change and must be evaluated as they relate to each tax payer's individual circumstances.
Staged With Appeal / Professional Home Staging Solutions
IAHSP International Association of Home Staging Professionals® 2017 Educational Conference and Expo.