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Welcome - Get the best real estate listings & homes for sale, expert advice, local info, and much more from Christine, a proven Ft. Lauderdale, Broward County and Hollywood, Florida NUMBER1EXPERT™ Top Selling real estate agent. Find Ft. Lauderdale, Broward County and Hollywood Homes - Find Ft. Lauderdale, Broward County and Hollywood, Florida real estate listings & homes for sale provided by Christine, your local expert real estate agent. For Home Buyers - Get home buying information, the latest listings, mortgage informaiton, expert advice, and much more from Christine, a proven Ft. Lauderdale, Broward County and Hollywood, Florida NUMBER1EXPERT™ Top Selling real estate agent. For Home Sellers - Get home selling information, fsbo information, expert advice, find out what your home and other homes in your neighborhood are selling for, and much more from Christine, a proven Ft. Lauderdale, Broward County and Hollywood, Florida NUMBER1EXPERT™ Top Selling real estate agent. Ft. Lauderdale, Broward County and Hollywood Information - Find local information on Ft. Lauderdale, Broward County and Hollywood, Florida including schools reports, local maps and links, things to do, area photos, and relocation information. Local information provided by Christine, a proven NUMBER1EXPERT™ Top Selling real estate agent. Real Estate Resources - Find real estate related resources including real estate news, tips, dictionary, trivia, mortgage calculators and information, local real estate related services, and much more from Christine, a proven Ft. Lauderdale, Broward County and Hollywood, Florida NUMBER1EXPERT™ Top Selling real estate agent. About Christine - Information about Christine including testimonials, guarantees, credentials, and contact information. Learn why Christine is a proven Ft. Lauderdale, Broward County and Hollywood, Florida NUMBER1EXPERT™ Top Selling real estate agent.
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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 |
Whose mansion sold for about $2 million after just one day on the market?
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Soon after the death of George Burns his home was put on the market; the home sold in 24 hours.
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