Here it is the first tip of the week! Are you looking to sell your home but you are worried about big brother wanting their share of the profits? This weeks tip covers a little known tax law by most individuals on how you can sell your personal residence and pay ZERO taxes.
Imagine netting $10,000, $20,000 or maybe a $100,000 all tax free.
Click this video right now to find out how you can sell your home and pocket the profits TAX FREE
So that’s it. If you sell your home the profits up to $250,000 for an individual and $500,000 for a couple are not taxed if you have lived in your home for at least 2 out of the past 5 years. Remember, I’m not an accountant and tax rules always change. For more details you can dig through the IRS page on this topic located at: http://www.irs.gov/taxtopics/tc701.html
Stayed tuned for more weekly tips from your local Real Estate Rockstar!