Take KARE of Your Cash: Professionals and cons of submit body properties

Local builders say they have received a huge surge in calls about so-called “house barns” or “barn dominions”.

WYOMING, Minnesota – A unique new home trend is emerging in Minnesota. People build single story houses with large garages called post frame houses.

Dean and Shirley Erickson took us on a tour of their post-frame home in Wyoming, Minnesota.

“Living room, kitchen area, dining room area … Dean basically designed the house for us,” Shirley said.

It is a typical two bedroom house, but with a few surprises. Like a large art and craft room for Shirley to work on her projects.

“That was part of the deal. I have to have a seat, ”said Shirley.

And right next door … a special place for Dean.

“As my friends would say, this is the palace entrance to the ‘Garage-Mahal’. Lots of space, concrete floor, high ceiling,” said Dean.

The garage has space for a dozen vehicles and every imaginable project.

The couple came up with the idea of ​​a new home about five years ago while visiting a family abroad.

“We were driving on a road and he said ‘stop’ and I’m fine and we stopped and he said, ‘that’s it,'” said Shirley.

It was a post and beam house that is all the rage in the south.

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Without a basement, post-and-beam houses have no foundation. The walls and the frame are usually cheaper compared to a normal Bauhaus.

However, Dean and Shirley quickly learned that building a post-frame home in Minnesota wasn’t going to be easy.

Many cities and counties do not allow them.

The counties that allow post and beam homes usually have many building restrictions and rules that you must follow.

Here in Wyoming, Minnesota, Dean and Shirley had to buy $ 4,000 storm shelter in the event of a tornado.

Later they ran into some other problems that also cost them more money.

“We ended up adding up all of our receipts and everything. It was kind of, uh, maybe a wash,” said Dean.

But saving money was the biggest selling point … but they quickly fell in love with the style of the house and all it had to offer.

So … you don’t regret your decision a bit.

Meanwhile, Dick and Roxann Johnson also built a post-and-beam home in Columbus, Minnesota that they love.

They liked the idea of ​​living on one level and having enough space for the home office.

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They also built a huge garage. “It gave us the opportunity to be all on the same level. I mean, you get out of the car in your garage, that’s the end of your steps,” said Dick. But like the Erickson, Dick and Roxann ran into some roadblocks.

“Some cities have this preconceived notion that it’s a tin shed and we’re not going to let you live in a tin shed,” added Dick.

Some counties rejected it and many builders will not build a post house.

“We got a little disaffected,” said Dick.

And then they found one – and the price was about two thirds of what a normal Bauhaus would cost.

“We looked at the price and said, ‘Yeah, we can do that,'” added Dick.

Dick says they ended up saving a lot of money, but most of it went back into the house.

Local builders say building a post frame home can save up to $ 40,000 compared to building a regular building.

But here, too, not every city or every district will allow this.

And builders say that because the houses are so unique it might be difficult to find a lender.

Or sell your home if you decide to move.

The building process is not straightforward and is generally not recommended for first-time buyers.

Take KARE of Your Cash: Saving cash on taxes throughout the COVID pandemic

If you keep an eye on the deductions this year, you can save thousands of dollars. Keep these receipts.

MINNEAPOLIS – It’s everyone’s favorite time of year, tax season.

And this year’s tax season is even more confusing than most.

At KARE 11, we are constantly receiving questions from viewers about this year’s tax returns.

We set out to answer some of the most frequently asked questions.

Scott Kadrlik from Meuwissen, Flygare, Kadrlik and Associates was kind enough to provide us with his expertise.

Can I claim the computers, books and office furniture I bought for my children in distance learning this year?

“A deduction will be made on your Minnesota return for education costs incurred to teach them at home,” says Kadrlik.

Parents can apply for both an education tax credit and an education allowance.

Kadrlik says the loan will only go to lower-income families who qualify.

To see if you qualify Click here.

However, the deduction is available to everyone.

For kindergartens up to 6th grade, parents can request a deduction of up to USD 1,625 per child.

For Grades 7 through 12, parents can claim $ 2,500 per child.

“These have to be school supplies that are really needed to be taught at home,” says Kadrlik.

So if you’ve bought your child a new laptop, office chair, books, or anything else related to education, keep these receipts on hand.

For a list of qualified deductions, Click here.

How about the home office that you set up so you can work from home?

Kadrlik says you likely won’t be able to claim any of these expenses towards your taxes.

“From now on you have to be self-employed in order to receive a deduction for the home office. You have to use this home office exclusively and regularly for your own company, ”explains Kadrlik.

So if you work for a company and you normally go to the office but suddenly work at home these days, Kadrlik says you don’t qualify for a deduction.

However, he says many companies have chosen to reimburse their employees for these additional costs.

He recommends contacting your boss or HR manager to find out what home office expenses are eligible for reimbursement.

How about people who had to claim unemployment for the first time? Do they have to pay taxes on the money they received in 2020?

“Unemployment benefits are taxable and will be included in their income this year,” says Kadrlik.

The IRS gives people who have received unemployment the option to either pay income tax immediately or wait until later.

Kadrlik says people who have already paid this income tax are aware, but if they haven’t paid, that money is owed when they file their tax return.

Do you have to pay taxes on the stimulus payments?

“The stimulus payments are NOT a taxable item,” says Kadrlik.

So you don’t have to pay tax on these stimulus payments, but the stimulus payments will be displayed when you return.

If you are owed money, had a new child, or your income went down in 2020 and you suddenly qualify for a stimulus check, Kadrlik says these payments will be added to or deducted from your tax refund on or from money you receive owe the IRS.

If you still have questions, read the IRS website.