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904-268-SELL or Toll Free 1-866-260-SELL (7355)
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Thank you for visiting KenMong.com - I'm really glad you are here. You've just found Jacksonville's NUMBER1EXPERT!. Whether you are buying, selling or just checking out our area, I will provide you with the most comprehensive information and service available. I appreciate the opportunity to work with you. Your business is important to me and I will work hard to earn it. Take a look around - you will not need to go anywhere else for information about Real Estate in the Jacksonville and St. Augustine areas.
- Ken Mong
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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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| Q |
What is one of the most common ways for making the interior of a home more appealing to buyers?
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| A |
Repainting walls with light, neutral colors makes it easier for a buyer to visualize how the home will look with their possessions. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERT™ 
