7. Profit from selling your home

Alright, there are a few ifs and buts for this one, but it’s worth thinking about. If you decide to seel your primary home you won’t have to worry about capital gains depending on the amount you’ve gained from the transaction. 

You could qualify for a tax break if you’ve used the property as your main home and, obviously, owned it for at least two years over the course of five years, prior to making the sale. 

How much could you save? Well, you could exclude $250,000 from your income or even double that if you decide to file jointly with your spouse.