FREE ACCESS To TAMPA BAY AREA LISTINGS Listingbook is the Newest Search Tool available to our Team that we are providing for You! The Listingbook is for both the SELLER and the BUYER. See what properties are Active and/or Sold on the market in your area! |  | | | Indian Shores on a Summer Day | |
|  | | | Winter Scene Sandcastle on Indian Shores | |
|
 |
Tax Considerations >Tax Rewards for Homeowners
The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.
Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.
The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.
|
|
| Q |
Legend has it that when Brigham Young first saw this city in 1847, he exclaimed: "This is the place!"
|
| A |
Salt Lake City, Utah. |
 See More Real Estate Trivia > |
|
|
|
The Preferred Team
Keller Williams Realty - Gulf Coast
13800 Park Blvd
Seminole, FL 33776
Cell: 727-492-0942
Fax: 727-398-0044
tscheele@kw.com
The Preferred Team Motto
“Let the Preferred Team Help You Sell or Find Your Preferred Home!”
Our Team members have been working, living and enjoying the West Coast Florida for over 30 years. We have watched the Tampa Bay area grow and diversify into a destination spot for travel and easy living. The Preferred Team has invested in the latest technology and continues to maintain our traditional values for an undefeated combination leading to success. We will use our knowledge of the communities in the Tampa Bay area and our expertise in helping you, the customer, in finding the home of your dreams. Remember, “We don’t want to sell you a house; We Want to Help You Find Your Preferred Home!”   
www.TampaBayFloridaHomes.net is brought to you by
The Preferred Team
NUMBER1EXPERT™ in real estate for
Pinellas County, Pasco County and Hernando County, Florida Read The Preferred Team's
Privacy Guarantee,
Terms of Service,
and
Free & Without Obligation Pledge
|
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT™ 
