Delaware County, Union County, Morrow County real estate and homes for sale in Ohio, Land - Georgia Hart, REALTORS® Georgia Hart REALTORS(r) for Delaware County, Union County, Morrow County, Ohio real estate and land - NUMBER1EXPERTS™ Georgia Hart NUMBER1EXPERTS(tm) for Delaware County, Union County, Morrow County, Ohio real estate and land
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Real Estate Tips
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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Real Estate Trivia
Q 
Which home is considered the ultimate in California craftsman-style architecture?

A 
Located in Pasadena, the Gamble House, built in 1908 by Charles and Henry Greene, is a National Historic Home open to visitors.
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Georgia Hart, REALTORŪ, real estate agents and broker for Delaware County, Union County, Morrow County Ohio home listings, property and land for sale - NUMBER1EXPERT(tm)

Georgia Hart
Keller Williams Capital Partners

100 East Wilson Bridge Road
Worthington
OH, 43085
Buyer Line/Listing Line: 740-362-7873
Fax: 614-888-3880
Direct office dial: 614-431-6126
Email: georgiahart@kw.com

Our goal is to have you become a client for life. We want to make sure your experience in selling or buying your home is the best you can get. We want your business and your friends & families...that means you would recommend us and that says a lot


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