Friday, March 7, 2008

PREPARE FOR THE WORST

Investors and home owners are in for some rocky times they may not be aware of. The tax cuts are set to end in 2010. One of the changes that interest me is "The Capitol Gaines Tax". The old tax, which it is set to revert back to, as I remember was 28% federal when adding your state tax a total of 30% and higher. How many of you bought a second home or investment property over the last 7 years or so. HOW MANY OF YOU ARE THINKING OF SELLING? You may want to think about selling before the tax resets. How about home owners thinking of retirement or moving out of the area. Currently if you have lived in your property as a primary residence for 2 out of the last 5 years,have not sold another primary residence and the sale is less than $500,000 for a married couple you probably will pay no tax. This benefit may also change,for more information put our team of experts to work for you,contact. john@jbrealtyservice.com . A FREE EVALUATION of your specific situation is available by appointment.call 215-721-6300.Also you can read more at WWW.JBREALTYSERVICE.COM