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All agents are NOT alike! Find out why I am a top real estate expert. Call me: 530-277-5074.
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Buyers Want Your Home for as Little as Possible.
Are you thinking of selling your home? You should know exactly what it's worth before making such an important decision.
Find Out More >
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 Compare three mortgages at one time.
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Things To Do In Penn Valley and Grass Valley!
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ARTS AND
HUMANITIES
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SHOPPING AND
DINING
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RECREATION AND
SPORTS
AREA ATTRACTIONS
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TRAVEL - Lake Wildwood is a
private gated community; it is located in Penn Valley, less than 2 hours away
from Reno and Lake Tahoe, 3 hours to the San Francisco Bay Area, 20 minutes to
Beale Air Force Base, and 1 hour north of Sacramento and Sacramento
International Airport. Grass Valley and Nevada City are 10 to15 minutes to the
east via state highway 20. |
Request my Free Penn Valley and Grass Valley Relocation Package. It's packed full of useful and important information about the Penn Valley and Grass Valley, California area. Don't move here without it! Remember: I'll send it to you for free and without obligation. Just fill out the form and I will send it right out...
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Tax Considerations >Tax Implications of Selling Your House Most of my clients profit from selling their homes, and they often have questions about capital gains tax.
When you sell your primary residence, you are not taxed on your profit if (1) you have lived in the home for two out of the last five years and (2) your gain does not exceed $250,000 as a single taxpayer or $500,000 as a married couple filing jointly. Gains above these limits are taxed at the current rate of 15% for higher income taxpayers and 5% for lower income taxpayers. In 2008 the 15% rate will continue for higher income taxpayers; while the 5% lower income rate will drop to 0% for the 2008 tax year only. On January 1, 2009, the long-term capital gains tax rates will once again be 15% and 5% through 2010.
Homeowners can use this tax-free provision every two years. As set forth in the American Job Creation Act of 2004, properties converted from a 1031 exchange property into a primary residence must be held and used as a primary residence for at least five years to qualify for the tax exemption.
Consult your tax accountant for more detailed information regarding your particular circumstance.
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| Q |
Where can you find the world's largest residential palace?
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| A |
The Istana Nurul Iman, palace of the Sultan of Brunei, includes 2,152,782 square feet, 1,788 rooms, 257 bathrooms and a 110-car garage. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERT™ 
