|
Joanna's Team is the trusted name of buyers and sellers for the past 20 years!!! call 928-505-2777 or 1-888-HAVASU1
|
We Have Bought And Sold Two Homes Through Joanna
“As far as we are concerned, Joanna and her staff are the only ones to do business with in Lake Havasu.”
~Kim and Coral French
Read Quote >
View All Quotes >
|
 Compare
three mortgages at one time. Download TripleCalc now. It's
free. |
Joanna's Team
is one of The Top Selling Real Estate Experts™
Find Out More > |
|
|
|
For Home Sellers:
Why Sellers Choose Joanna's Team - Why home sellers in Lake Havasu City, Bullhead City and Kingman choose Joanna's Team. Free Presentation - Free in-home listings presentation on marketing your Lake Havasu City, Bullhead City and Kingman, in County Arizona property. Property Valuation - How much is your Lake Havasu City, Bullhead City and Kingman home worth? What Did That Home Sell For? - What did that Lake Havasu City, Bullhead City and Kingman, Arizona property or other real estate sell for? FSBO - Selling your Lake Havasu City, Bullhead City and Kingman real estate on your own? Go to Main Sitemap - Main sitemap sections include Find Lake Havasu City, Bullhead City and Kingman Homes, For Home Buyers, For Home Sellers, Lake Havasu City, Bullhead City and Kingman Information, Real Estate Resources, and About Joanna's Team.
Please Sign Up For The Latest Listings and the Latest Real Estate News
 |
Tax Considerations >Taxable Profits
If you are thinking of selling your home and your house has risen in value since you purchased it, or you have accumulated a lot of deferred profit from previous sales, the Taxpayer Relief Act passed in 1997 could be of tremendous value.
Prior to this law, when a homeowner moved to a smaller home, relocated to a less costly area, or made a decision to rent, they were left with unfavorable tax consequences. The old tax law allowed people who sold their homes to defer tax on any profit by buying a replacement home of at least equal value within two years. At age 55, they could permanently escape tax on up to $125,000 of profit, but any profit in excess of that amount was taxable unless a new home was bought.
The good news is that with homes sold after May 6, 1997, homeowners can make as much as $500,000 tax-free profits on the sale of a principal residence for joint filers or $250,000 for single filers. The $500,000 capital gains exclusion removed taxes as a consideration for most home sellers by giving them flexibility to trade up or down. It has also allowed homeowners to preserve the savings value of a home when they sell, provided they use the property as their principal residence for two of the prior five years prior to the sale.
Consult your tax advisor for your particular circumstance.
|
|
| Q |
1992 marked the first year since before the Civil War that there were fewer than 2 million ________ in the United States?
|
| A |
There are fewer than 2 million farms, and agricultural land is still being carved up for residential and commercial uses. |
 See More Real Estate Trivia > |
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT™ 
