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Welcome! West Chester, Downingtown and Exton, Pennsylvania Real Estate
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Need local real estate information? I have summarized much of what is important about the West Chester, Downingtown and Exton real estate market in this site.
Need expert advice? No web site, large or small, can take the place of a real estate agent. Not even mine! This site is filled with ways that you can contact me for one-on-one expert help and advice. That's my job.
Contact me with confidence! I guarantee your privacy will be respected and I offer the services on this site for free and without obligation. Why?I want to be YOUR real estate agent. As your trusted, professional real estate partner,I will help you find the best home in your area within your price range and together we will sell your home, for as much as the market will bear, and as quickly as possible.
Buying and selling a home is one of the biggest events in your life. we have the experience and track record you are looking for.
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Tax Considerations >Tax Rewards for Homeowners
The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.
Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.
The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.
Sunita Noronha RE/MAX Main Line 1646 West Chester Pike, Suite 2 West Chester, PA 19382 Sunita Cell: 484-744-3812 Fax: 610-429-9888 Office Phone: 610-692-2228 sunitanoronha@NUMBER1EXPERT.com
For the most comprehensive support for your home buying and selling needs, contact Sunita Noronha
Sunita: RE Lic.# RS 177545L
www.westchesterperfecthomes.net
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West Chester, Downingtown and Exton, Pennsylvania
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