If you are a homeowner, considering home ownership or you are considering selling your home, there are a number of considerations. One of the most common questions that sellers have when they plan to sell their home is with respect to taxes. When you hear phrases like “1031 Exchange”, “Capital Gains,” and “Allowable Gains,” it can get pretty confusing. Of course, it is vital to have an excellent accountant on your side! Additionally, the California Association of Realtors® published this simple overview of the six tax facts that home sellers and homeowners should know.
Check it out, and if you have any questions, please do not hesitate to contact the agents at Broadpoint Properties.