Tax Season has ARRIVED!!!

 

Ladies and gentlemen, tax season, had ARRIVED!!

      

Did you know that many taxpayers received more money in their paychecks every week last year, which resulted in a lower tax refund than previous years because the IRS lowered the federal tax rates.  

2019 Tax Rules & Regulations     

  • Standard deduction increased to $12,200 for a single taxpayer and $24,400 for married taxpayers.
  • Federal penalties are no longer applicable for not having medical insurance; however, it still applies to the state.        
  • The IRA contribution has increased to $6,000; for taxpayers over 50 years old, a “catchup” of $1,000 is allowed. 

Depending upon your taxable income, there are 7 different tax rates that may apply to you:

         

• 10%, 12%, 22%, 24%, 32%, 35%, & 37%

         

 If you are in the market for an accountant you can trust, please contact Covelle & Covelle Public Accountants at (781) 844-2935 or rcovelle@comcast.net. 

 

 

Erica Covelle is a seasoned Realtor ®, a Senior Vice President at Compass with 13 years of experience. She has seamlessly married her interior design expertise with her passion for helping both buyers and sellers create visions for the most beautiful homes. Erica Covelle surpasses industry standards, when you work with Covelle & Company, you gain access to the tools and professionals one needs to BUY and SELL in today’s market. Through creative and enticing strategies, Erica and her team help sellers to make money and buyers to save money.

How Covelle & Company will maximize the value of your home. 

 

 

Exclusive to Covelle & Company, our Concierge program helps you quickly prepare your home for sale by fronting the cost of home improvement services so that you can sell it faster and for more money. Whether you’re facing basic wear-and-tear or your home requires more significant upgrades, Concierge has the power to transform a property — and the price it can claim. Using this service with Covelle & Co. is a hassle-free way to bring your home to the next level.     

  1. Show your home in its best light.

  From painting to flooring, Covelle & Co. services can help your home look its best before hitting the market. Our very own Erica Covelle was born with the gift of bringing listings to the next level. Being an experienced Realtor as well as a professional interior designer, She transforms “what it is” to “what it can be,” building equity and setting the scene to achieve top dollar numbers!   

  1. Sell your home faster.

  Covelle & Co. helps you attract more buyers so that you can sell your home quickly. Once our concierge program is in play, our team creates a customized marketing plan to help boost your home to the audience needed. At an average of 25 days on the market compared to the competition 53-day average, our team offers an impressive turnaround compared to the competition.   

  1. No upfront costs or interest.

  Funds will be advanced to you for home improvement services. When your home sells, you’ll pay the costs of services rendered and nothing more.   

  1. Working with Covelle & Co. is hassle-free.

  From assessing which updates will increase your home’s value the most, to recommending the best vendors for the job, you’ll have our complete guidance and assurance at every step as a seasoned real estate agent and professional interior designer.    Check out some of our transformations; these homes resulted in record-breaking sale prices with our upgrades. 

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56 Mystic St | Behind the Transformation 

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56 Brookbridge Rd | Behind the Transformation 

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201 Franklin St | Behind the Transformation               

 

Are you selling your home? It’s clichéd, but it’s true — you never get a second chance to make a first impression! Don’t leave money on the table. Covelle & Co. helps clients sell two times faster for an average of 1.5 percent more. With an average sale price of $600,000, that’s $24,000 extra in our seller’s pockets. Call us today to learn more about how our team can help you sell your home:  covelleco.com/contact-us

Behind The Transformation — 56 Mystic St

  New to Compass, we are now able to give our clients an opportunity to bring a competitive edge to their properties when selling their homes! Being able to stage and renovate your property will allow you to create a vision hand in hand with Covelle and Company, taking your home to the next level.
 
“As a seasoned REALTOR & Interior Designer, I have sold hundreds’ of homes, and Compass without a doubt has played a considerable role in my clients’ success when selling. The Compass Concierge program allows me to ensure my clients that we are creating a perfect picture property when debuting their home to the market, leading to top dollar pricing for long term investments.” 

                                                                                                                         -Erica Covelle

A little work is all it takes to get your property to reach its full potential, and 56 Mystic St is an excellent example of that. This Arlington condo renovation aided in a multiple offer situation, which lead to a sale price that was $41,000 OVER the asking price.   With a few simple fixes, along with our vision and strategy, we were able to bring this condo to its full potential! We were able to put $41,000 more in the sellers pocket as well as get this property off the market in UNDER 7 days. 56 Mystic St sold with a 111% list to ratio price and a thrilled seller!
   
Here’s how the home looked before our renovations and staging:
    Here’s just a snippet of how we transformed this home:      

Hall View

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Kitchen

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Living Room

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Bathroom 

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 Master Bedroom 

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Office

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Home Exterior

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Selling your home? It’s clichéd, but it’s true — you never get a second chance to make a first impression! Don’t leave money on the table. Covelle & Company helps clients sell two times faster for an average of 1.4% percent more. At an average sale price of $600,000, that’s $24,000 more that we help put in our sellers’ pockets! Call us today to learn more about how our exclusive white glove designer service can help you sell your home for top dollar. Contact Us | Covelle & Company | Compass

COVELLE & CO’s Guide to Prepping Your Home for the Market

You may have had selling your home in the back of your mind for a long time, or maybe you’ve just been watching too much HGTV — either way, the time has come to start prepping your home for the market. Though it may seem like a daunting task, if you take it step-by-step, and have COVELLE & COHEN by your side, you’ll have your home ready for the market in no time. We’ve compiled our top 5 CoCo tips for listing your home:

CoCo Tip #1: Declutter

First impressions are everything. You’ll want to start prepping your home for the market by purging, packing, and putting away any unnecessary items. Section off parts of your home and go room by room until you have decluttered every room. Less is more and clutter eats equity!

CoCo Tip #2: Spatial planning

Don’t scare potential buyers away from your space — plan it well! Try incorporating spatial planning by assessing areas of your home and developing plans for furniture layout and decor placement. It’s important to assess the rooms in your home that normally get a lot of traffic first and find ways to maximize their potential space.

CoCo Tip #3: Staging

Staging is one of the most important aspects of getting your home on the market and SOLD. Be sure to stage your home before it hits the market. You want buyers to be able to picture themselves living there. It may be tempting to keep up your favorite decorations or photos of your family, but it is better to depersonalize your home when you are planning to sell.

CoCo Tip #4: Repairing and cleaning

Buyers will quickly know what needs to be fixed, especially if they are requesting a home inspection. Make a list of everything that’s broken or worn out in your home and fix it before putting it on the market. Making minimal improvements such as patching the walls and ceilings, and fixing leaky faucets can make a huge difference to a buyer.

CoCo Tip #5: Curb appeal

When it comes to selling, the exterior of your home is just as important as the interior. This is the real first impression people get of your home. Potential buyers could not even step foot inside the house if they don’t like the way it looks on the outside. Amp up your curb appeal by power washing the siding of your home, painting any trim that needs it, and freshening up your landscaping.

We are here to help! COVELLE & COHEN is a team of professional real estate agents here to sell your home for top dollar. Experience our white glove service and cutting edge strategies firsthand — contact us today.  

5 Tax Breaks Homeowners Should Take Advantage of this Tax Season

Though it may not have been your sole purpose of buying a home — tax breaks are a huge perk of homeownership. According to U.S. News, as many as 19 million taxpayers will benefit from itemized deductions this year. We spoke with Robert Covelle Sr of COVELLE & COVELLE Public Accountants, a firm who specializes in taxes and is certified by the IRS, about how homeowners can benefit this tax season.

Here are 5 tax breaks you should take advantage of:

1. Mortgage Interest

Something every homeowner can count on this tax season: deducting mortgage interest. In other words, you are able to deduct any interest you paid on your residence — up to $1 million in loans. This also includes deducting interest on a refinanced mortgage (with certain debt limitations).

2. State and Local Taxes

Don’t fret — those thousands of dollars you paid for state and local property taxes are actually deductible. As a matter of fact, you can deduct a maximum of $10,000 of your paid total property tax, state income tax, or state/local sales taxes.

3. PMI

Pre-Mortgage Insurance with properties that have less than 20% down is deductible.

4. Rental Property

Rental property often offers larger deductions and tax benefits than most investments. Many of these are overlooked by landlords at tax time. This can make a difference in making a profit or losing money on your real estate venture. If you own a rental property, the IRS allows you to deduct expenses you pay for the upkeep and maintenance of the property, conserving and managing the property, and other expenses deemed necessary and associated with property rental.

5. Energy Tax Credit

Taxpayers who upgrade their homes to make use of renewable energy may be eligible for a tax credit to offset some of the costs. As of the 2018 tax year, the federal government offers the Nonbusiness Energy Property Credit. The credits are good through 2019 and then are reduced each year through the end of 2021. Claim the credits by filing Form 5695 with your tax return.

For more information on how you can benefit this tax season, please contact Robert Covelle Sr at 781-844-2935 or rcovelle@comcast.net.

COVELLE & COVELLE Public Accountants is a firm who specializes in taxes and is certified and approved by the IRS. With over 40 years of experience, COVELLE & COVELLE has prepared more than 10,000 tax returns and has a proven track record. They are dedicated to providing clients with professional and personalized services in a wide range of financial, accounting and tax needs.