Get Free Presentation On Our Home Marketing.
Before signing a contract with any real estate agent, 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. |
|
|
|
Special Offers From The Results Realty Team To You! Just for you, we've assembled some Special Offers. Choose one or all!
Free Home Inspection
We will reimburse for a home inspection on the property you purchase through us!
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.
|
| Q |
What is encroachment, and how might it affect a property owner?
|
| A |
Encroachment, refers to the unauthorized intrusion of a building or improvement onto another person's property; it often requires a surveyor's report to support the claim. |
 See More Real Estate Trivia > |
|
NUMBER1EXPERT®
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
-
NUMBER1EXPERT™ 
