Concord, Lake Norman and University City real estate and homes for sale in North Carolina, lake homes, golf course properties, homes with acreage - Neal Pender, REALTOR® Neal Pender REALTOR(r) for Concord, Lake Norman and University City, North Carolina real estate, lake homes, golf course properties, homes with acreage - NUMBER1EXPERT™ Neal Pender NUMBER1EXPERT(tm) for Concord, Lake Norman and University City, North Carolina real estate, lake homes, golf course properties, homes with acreage
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Neal Pender, REALTOR®, real estate agent and broker for Concord, Lake Norman and University City North Carolina home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
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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Real Estate Trivia
Q 
What was the longest distance a building has ever been moved?

A 
Detroit's five-story Gem Theater, built in 1927, was moved 1,850 feet (5 blocks) to make way for two new sports stadiums.
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Neal Pender, REALTOR®, real estate agent and broker for Concord, Lake Norman and University City North Carolina home listings, property and land for sale - NUMBER1EXPERT(tm)

Neal Pender
Keller Williams Realty

6001 Gateway Center Drive Suite 105
Kannapolis NC 28081
Tel: 704 737-7653
Fax: 704-973-0060
Email: nealpender1@NUMBER1EXPERT.com

Neal Pender CRS, CNHS, Broker in NC/SC (Keller Williams Realty): Real Estate Agent in Concord, Cabarrus County, North Carolina Since 1996, Neal Pender has been a full-time REALTOR helping people with real estate in greater Cabarrus County, Lake Norman and Charlotte. He creates “raving fans” as the result of an intense devotion to customer service. Neal’s clients benefit from his advanced negotiating expertise, trustworthiness and vast market knowledge.

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Keller Williams real estate and homes for sale in Concord, Lake Norman and University City North Carolina

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