|
All agents are NOT alike! Find out why "I Am A Top Real Estate Expert". Call me direct at 800-346-6163, 920-680-3942 cell, 920-338-8116 office
|
Get Free Presentation On My Home Marketing.
Before signing a contract with any Realtor, make sure you know EXACTLY how your home will be marketed.
Find Out More >
View All Offers >
|
 Compare three mortgages
at one time. Download TripleCalc now. It's free. |
|
| |
The Wildlife
Sanctuary
|
Welcome! You Can Find Great Information on Green Bay, De Pere and Green Bay Metro Wisconsin Real Estate Right Here!
 Looking for homes? Search everything the web has to offer, right here! Don't miss my Feature Homes. Need local real estate information? I've summarized much of what is important about the De Pere and Green Bay area Real Estate Market in this site. Need expert advice? No web site, large or small, can take the place of a top Realtor. This site is filled with ways that you can contact me for one-on-one expert help and advice. That's my job. Contact me with confidence! I guarantee your privacy will be respected. And I offer the services on this site for free and without obligation. Why? I want to be YOUR Realtor. As your trusted, Professional Real Estate Agent, I will help you find the best home in your area within your price range. And together we will sell your home as quickly as possible. Buying and selling a home is one of the biggest events in your life. As a Top De Pere/Green Bay Metro Area Realtor, I have the experience and track record you are looking for. Please let me help. - Tom Monahan |
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 |
What famous writer's home is Rowan Oak?
|
| A |
Rowan Oak in Oxford, Mississippi, was the home of William Faulkner from 1930 until his death in 1962.
|
 See More Real Estate Trivia > |
|
|
|
|
- NUMBER1EXPERT™ 
