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Call The Concierge Service Team TOLL FREE 888-854-5511 for Lake Havasu City Real Estate information. Selling Lake Havasu since 2003.
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Before signing a contract with any real estate agent, make sure you know EXACTLY how your home will be marketed.
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"Dominic was very knowledgeable"
"Dominic kept us informed perfectly about the market."
Tommy and Terri Madsen - Lake Forest, California
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Visit my Blog
With daily posts you'll find a comprehensive view of the area at my web log. Check often for monthly roundups of the market in Lake Havasu City, recommendations about restaurants and menu items to try, local happenings and local real estate news. VISIT now, bookmark the site and come back often! Havasu Home Talk |
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Tax Considerations >Beneficial Tax Laws American tax law offers a significant capital gains tax exemption that allows taxpaying homeowners to unlock home equity and end the spiraling cycle of "investing up." First-time buyers enjoy expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, rules that allow penalty-free withdrawals to purchase a home.
Every two years, married sellers of principal residences who file joint federal income tax returns are allowed a $500,000 exclusion ($250,000 for singles) from capital gains tax. For sales that took place after May 6, 2003, the maximum capital gains tax rates for profits above the exclusion dropped from 20% to 15% for higher income taxpayers, and from 10% to 5% for lower income taxpayers.
Homeowners can now consider several new options. People who find themselves at an empty-nester stage (no children at home) in a four or five bedroom home with a large equity have been able to unlock their equity dollars, using the income to help their children buy a first home, take a luxury cruise, remodel the house or purchase a second home for vacation or retirement.
Consult your tax advisor for advice regarding your particular circumstance.
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| Q |
What is the world's longest wall?
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| A |
The Great Wall of China, at a length of 2,150 miles, nearly three times the length of Britain. |
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