Day: June 21, 2022

Selling a vacation home that’s gone up in value? A Section 1031 exchange is one way to avoid a tax hit

Say you own a highly-appreciated vacation home that you’re ready to unload for whatever reason. If you simply sell it, you could face a whopping big income tax bill. See my earlier column on that unfortunate outcome. Ugh.

But if you’re still bullish on real estate and not a fan of paying taxes unnecessarily, you could instead swap your vacation home for another vacation home or virtually any other type of real property in a tax-deferred exchange under Section 1031 of our beloved Internal Revenue Code. Believe it or not, the IRS has supplied the recipe for how to exchange

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The Ins and Outs of Tipping On a Cruise

What’s the deal with tipping on a cruise? Are you supposed to tip on a cruise? Are cruise gratuities mandatory? Should you prepay gratuities? In this guide, we answer all these questions and more. 

When planning and budgeting for your cruise vacation, one of the things you’ll need to think about is tipping. Tipping is a customary way of showing your appreciation for good service.

Paying for cruise gratuities is something that cruise passengers are expected to do. Gratuities are typically added to your onboard account and paid at the end of your cruise. You can also choose to prepay

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Canceled flights rise across US as summer travel heats up

FILE - Travelers queue up at the north security checkpoint in the main terminal of Denver International Airport, Thursday, May 26, 2022, in Denver.  Airlines canceled more than 1,000 flights by midmorning Friday, June 17, as they try to recover from storms that raked the center and eastern parts of the country.   (AP Photo/David Zalubowski, File)

FILE – Vacationers queue up at the north protection checkpoint in the primary terminal of Denver Global Airport, Thursday, Might 26, 2022, in Denver. Airways canceled additional than 1,000 flights by midmorning Friday, June 17, as they test to get better from storms that raked the middle and japanese elements of the region. (AP Picture/David Zalubowski, File)

AP

U.S. airways canceled higher quantities of flights for a second straight day on Friday as they tried out to recover from storms while accommodating increasing crowds of summer time vacationers.

By early afternoon in the jap U.S., airlines has scrubbed

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18 Smart Travel Tips That’ll Banish Stress From Your Summer Vacation

In the days before you set out on a trip, your mind is already en route to your destination — imagining the warm sand between your toes or the stunning landmarks gracing your line of sight. (If you’re hoping to capture those sweet vacation memories on camera, here’s the essential travel photography gear to pack.) But with an impending trip also comes a heap of logistics to manage, and you might find your excitement is overshadowed by stress. 

First, you might encounter pricier-than-ever airfares as you book your trip. After you arrange your time out of office, you

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