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Welcome > Sitemap > For Buyers ...
For Home Buyers:
Why Buyers Choose Judy Gull - Why homebuyers looking for a real estate agent in the La Crosse, La Crosse County, Onalaska and Holmen area choose Judy Gull. Latest Listings - Get Judy Gull's latest La Crosse, La Crosse County, Onalaska and Holmen listings of homes for sale first! Find Your Perfect Home - Judy Gull will search for your ideal home and email you the newest La Crosse, La Crosse County, Onalaska and Holmen MLS listings of properties in La Crosse County WI. First Time Homebuyers - Are you a first time homebuyer in La Crosse, La Crosse County, Onalaska and Holmen, WI? Choose a top real estate agent. Judy Gull can guide your home buying search. Mortgage Prequalification - Pre-qualify for a mortgage or loan for your La Crosse, La Crosse County, Onalaska and Holmen house or other real estate or property. Go to Main Sitemap - Main sitemap sections include Find La Crosse, La Crosse County, Onalaska and Holmen Homes, For Home Buyers, For Home Sellers, La Crosse, La Crosse County, Onalaska and Holmen Information, Real Estate Resources, and About Judy Gull.
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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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What famous $40+ million home has a 60-foot pool with underwater music and a 20-car garage?
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| A |
The home of Bill Gates, co-founder of Microsoft, features the latest futuristic computer technology. |
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