Tax Topics: 

If you are thinking of selling and want to discuss the tax consequences of selling, I can give you general information about: 

  1-Single and married Capital Gain Exclusion on primary residence 

  2-1031 Tax Deferred Exchanges on Investment properties 

  3-Unique ways to defer capital gains on almost any sale 

  4-Tax Deferred Exchanges and/or Roll Over Rules: Ouch! If you are here to brush up on the over 55 roll over rule, you are in big trouble. Federal law no longer allows the one time rollover of capital gains on personal residences. Instead, there is a $250,000 exclusion of capital gains for single people and $500,000 for married persons (restrictions apply).  If you are seeking an experienced Broker for 1031 tax deferred exchanges, I am your man.  I have done many as a Real Estate practitioner and as a principal as well.  Call me!

  5-Sheltering property for estate and medicare planning. I know enough about this to put you in touch with a trusted affiliate.

Often answers can be complicated and require specific information from professionals. If I don’t know the answers, I will put you in touch with a qualified practitioner.  

Let me stress that I deal with these issues regularly!  I am not an attorney or a CPA. I will put you in touch with folks I trust when you need that type of advice.

Cosmetic Improvements >Handle Needed Repairs Early There is a standard chain of events that occurs when an offer comes in on a home. After a meeting of the minds, the buyer often brings in a home inspector who may find a few items that need to be repaired. The real estate agent gives the homeowner a list of the requested repairs. What comes next? In most transactions, the seller will take care of the repairs. Many sellers wait until the week before the closing to call someone to do the work, because they want to be sure that they are going to make it to the closing table before they spend money on repair work. If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs. See All Tips In The "Cosmetic Improvements" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  Which famous home designed by Thomas Jefferson showed forms of Greek and Roman architecture? A  Monticello, begun in 1769, was later enlarged in keeping with its classical forms. See More Real Estate Trivia >

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