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It's our job to know EVERYTHING about Lake Havasu City! Ask us any question. Or request a FREE information package. There's no obligation, and we promise to get back to you quickly... 
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.
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| Q |
What is the world's largest palace?
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The Imperial Palace (Gugong) in the center of Beijing, China covers over 178 acres and dates back to the early 1400s. |
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Dominic Labriola, Broker
Concierge Service Properties
3269 Maricopa Avenue Suite 114-123
Lake Havasu City, Arizona 86406
Toll Free Direct: 888-854-5511
Local Lake Havasu: 928-854-5511
Fax: 928-223-5555
Email: DialDominic@gmail.com
Time is the most valuable resource, and we don't want to waste yours. Our team approach allows us to specialize. When you work with The Concierge Service Team, you don't just get one agent to work for you, you're working with an organized team of professionals. Search easy at www.HavasuHomesNow.com - Lake Havasu's Ultimate Home Searching website with Full Details, Large Photos, Maps and Satellite Views. Read our blog updated weekdays at www.DialDominic.Wordpress.com. Our area information site www.Havasu-Real-Estate.com has all of our featured homes and a gorgeous slideshow of photos of Lake Havasu City.
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