


|
All agents are NOT alike! Find out why we are top real estate experts. Call us at: 404-873-0550.
|

Get Free Presentation On Our Home Marketing. Before signing a contract with any real estate agent, make sure you know EXACTLY how your home will be marketed. Find Out More > View All Offers >
|

"The open houses and marketing campaigns... ...Mark organized were, visible, tangible signs of his efforts. But we also understood how much work the team out in behind the scenes..." Keith & Avonne Herndon Read Quote > View All Quotes >
|
Compare three mortgages at one time.
Download TripleCalc now. It's free.
|

Mark Brandwine and Company are
some of The Top Selling Real Estate Experts Find Out More > |
|
|
 |
Please Check Out Our Link Partners The following links are from other real estate and real estate related web sites, which we have agreed to exchange links with... Hot Tubs The most selection and best prices on hot tubs, spas, and hot tub covers on the Internet
Please Sign Up For The Latest Listings and the Latest Real Estate News
 |
Tax Considerations >Taxpayer Relief
Legislation included in the 1997 federal budget made significant changes that improve a homeowner's ability to profit from the sale of real estate.
The capital gains tax exclusions on the sale of a principal residence is just one of several benefits for homeowners. When you sell a home you have owned and use for two of the five years prior to the sale, married couples are allowed to keep up to $500,000 in tax-free profits and taxpayers filing as singles can keep up to $250,000 before paying capital gains tax.
Long-term capital gain is also taxed at lower rates as a result of the Jobs and Growth Tax Relief Reconciliation Act passed in 2003. The maximum capital gains tax rates dropped from 20% to 15% and from 10% to 5%, effective for sales and exchanges taking place on or after May 6, 2003 and through December 31, 2007. In 2008 the 15% rate continues for higher income taxpayers, while the 5% rate for lower income taxpayers drops to 0%, but only for the 2008 tax year. On January 1, 2009, the 10% and 20% rates will be reinstated.
Consult your tax advisor for advice regarding your particular circumstance.
|
 |
| Q |
Nearly every state has a mandate for seller disclosure. What must a seller disclose?
|
| A |
The seller must disclose any existing problems, defects or conditions that could affect the value of the house.
|
See More Real Estate Trivia > |
|
|
|
|