Category Archives: Tips
Avoiding Gapital Gains Tax on the Sale of Your Home
Worried about taxes eating away too much of the profit on your home? Under a law enacted about ten years ago, a married couple filing jointly usually can exclude as much as $500,000 of their gain. For someone who is single or married and filing separately, the limit is $250,000.
To qualify for the full exclusion, you typically must have owned the home and lived in it as your primary residence for at least two of the five years prior to sale.
This exclusion applies only to your primary residence. Even someone who couldn’t pass those tests might qualify to exclude most or all of the gain under certain circumstances. The seller may be eligible for a reduced exclusion if that person had to sell because of a “change in place of employment”, health reasons or “unforeseen circumstances.” What are unforeseen circumstances? Examples cited by the Internal Revenue Service include divorce, death, or “multiple births resulting from the same pregnancy.”
Some think they’re required to buy a new home to qualify for this home-sale gain exclusion. That’s wrong. They’re probably thinking about a law that was repealed about a decade ago, under which you could defer tax on the gain on the sale of your home by rolling over the proceeds into a new home that cost as much as, or more than, the old one. Congress eliminated that law, in part because it was viewed as unfair to people who wanted to downsize and buy a less expensive home or to sell and move into a rental. Contact Patrick Warholic, your Folsom, El Dorado Hills, and Granite Bay Realtor for details.
Folsom Luxury Homes and Land Specialist
Our motto is to always “Do the Right Thing”, starting with providing premier executive real estate service to buyers and sellers of Folsom, Granite Bay, and El Dorado Hills luxury homes and land.
For more information from California Home Network visit Patrick Warholic, The Internet Home Marketing Specialist for free, no registration required, MLS home and property searches with amazing home search results at your fingertips, along with its ease of use, no registration required advanced home search features that will simply astound you. You can even search by using the new Google Map search, with community search parameters, and even do a home search for energy saving features too. Are you looking for great real estate deals, short sales, or bank owned properties? With this powerful home search engine that information is right at your fingertips now.
California Home Network also provides free real estate reports, information for sellers, information for buyers, and find out exactly what your home is worth with a free home valuation, with current up-to-date market information provided for you.
Learn how how you can be mortgage free in 8 to 11 years without re-financing. Ask for your free House Payment Free analysis.
Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.
Check This Out: Food 411 Dot Com
Imagine a huge, searchable directory of food-related websites. For example, the Food Reads section is divided into magazines, books, blogs, and recipe sites.
For everything on the Web related to online food shopping opportunities; gourmet foods online, ingredients, recipes, regional specialties, food blogs, unique food gifts, and meals delivered–each and every listing has been carefully reviewed & hand-selected.
So for a great food resource, go to: www.food411.com
Brought to you by California Home Network,
Folsom Luxury Homes and Land Specialist
Our motto is to always “Do the Right Thing”, starting with providing premier executive real estate service to buyers and sellers of Folsom, Granite Bay, and El Dorado Hills luxury homes and land.
For more information from California Home Network visit Patrick Warholic, The Internet Home Marketing Specialist for free, no registration required, MLS home and property searches with amazing home search results at your fingertips, along with its ease of use, no registration required advanced home search features that will simply astound you. You can even search by using the new Google Map search, with community search parameters, and even do a home search for energy saving features too. Are you looking for great real estate deals, short sales, or bank owned properties? With this powerful home search engine that property information is right at your fingertips now.
California Home Network also provides free real estate reports, information for sellers, information for buyers, and find out exactly what your home is worth with a free home valuation, with current up-to-date market information provided for you.
Learn how how you can be mortgage free in 8 to 11 years without re-financing. Ask for your free House Payment Free analysis.
Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.
11 Things Every Young Child Should Know About Money
What you want your child to know about money depends on your personal values. Here are some concepts that are recommended for our children to understand:
- Spending, saving and sharing are ways to use money.
- Saving allows you to buy something in the future because you don’t have enough money today.
- People have a limited amount of money to spend.
- Money can be spent only once-after you buy something you need more money to buy something else.
- Planning helps people set goals and make choices about money.
- People do some things for each other without being paid.
- People give money to help others.
- People pay for things in different ways.
- Some things do not cost any money.
- People in a community share the cost of some work done for everyone.
- Paper money and coins are worth different amounts.
Folsom Luxury Homes and Land Specialist
Our motto is to always “Do the Right Thing”, starting with providing premier executive real estate service to buyers and sellers of Folsom, Granite Bay, and El Dorado Hills luxury homes and land.
For more information from California Home Network visit Patrick Warholic, The Internet Home Marketing Specialist for free, no registration required, MLS home and property searches with amazing home search results at your fingertips, along with its ease of use, no registration required advanced home search features that will simply astound you. You can even search by using the new Google Map search, with community search parameters, and even do a home search for energy saving features too. Are you looking for great real estate deals, short sales, or REO bank owned properties? With this powerful home search engine, that information is right at your fingertips now.
California Home Network also provides free real estate reports, information for sellers, information for buyers, and find out exactly what your home is worth with a free home valuation, with current up-to-date market information provided for you.
Learn how how you can be mortgage free in 8 to 11 years without re-financing. Ask for your free House Payment Free analysis.
Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.
Identity Theft Resource Center
A surge of identity theft crimes in recent months makes this a must read for consumers looking for tips on how to avoid trouble and what to do if the worst happens.
Identity Theft Resource Center® (ITRC) is a nonprofit, nationally respected organization dedicated exclusively to the understanding and prevention of identity theft. The ITRC provides consumer and victim support as well as public education. The ITRC also advises governmental agencies, legislators, law enforcement, and businesses about the evolving and growing problem of identity theft.
Go to: http://www.idtheftcenter.org
Folsom Luxury Homes and Land Specialist
Our motto is to always “Do the Right Thing”, starting with providing premier executive real estate service to buyers and sellers of Folsom, Granite Bay, and El Dorado Hills luxury homes and land.
For more information from California Home Network visit Patrick Warholic, The Internet Home Marketing Specialist for free, no registration required, MLS home and property searches with amazing home search results at your fingertips, along with its ease of use, no registration required advanced home search features that will simply astound you. You can even search by using the new Google Map search, with community search parameters, and even do a home search for energy saving features too.
California Home Network also provides free real estate reports, information for sellers, information for buyers, and find out exactly what your home is worth with a free home valuation, with current up-to-date market information provided for you.
Learn how how you can be mortgage free in 8 to 11 years without re-financing. Ask for your free House Payment Free analysis.
Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.
