PSA: When you make physical improvements to your home, log the expenses and save the receipts - it could save you serious money when it comes time to sell. The IRS allows married couples to write off up to $500k of gains when they sell their primary residence. If you are fortunate to sell your house for more than $500k above what you paid, the cost of those physical improvements (Kitchen reno, addition, etc.) can be written off, thereby reducing the taxable gains and your tab with Uncle Sam.
