Myth About 3.8% Tax on all Real Estate Sales Will Not Die...
A false rumor about a transfer tax on all real estate sales is once again making the rounds on the Internet and in e-mails. The information being forwarded claims that the Affordable Care Act contains a 3.8% tax on all real estate sales. Not so.
Though the act does include a 3.8% tax on some investment income, it will not come into play for the majority of home sales. First, the tax applies only to people with adjusted gross income of $200,000 ($250,000 for a joint return). Also, homeowners who sell their principal residence will still enjoy the exclusion of $250,000 of gain realized on the sale of the home ($500,000 for married couples) as long as they have lived in their primary residence 2 of the last 5 years - otherwise standard capital gains taxes apply.
Any questions about real estate in general please feel free to email me directly at JP@JPHOMESFORSALE.com
JP Piccinini is the Broker/Owner of JP and Associates REALTORS - He specializes in residential real estate sales in Frisco, McKinney, Allen and Plano. He has closed hundreds of deals for buyers and sellers both in Texas and South Carolina and is one of the few Accredited Luxury Home Specialists in the DFW Texas Metroplex. He can be reached directly at 469-999-HOME (4663) or via email at JP@JPHOMESFORSALE.COM - to view some of his videos visit www.jphomesforsale.info
Author:JP Piccinini Phone: 469-999-4663 Dated: July 16th 2012 Views: 3,958 About JP: JP Piccinini is the Founder, Broker and Owner of JP and Associates REALTORs - a real estate brokerag...
JP And Associates REALTORS specialize in residential real estate sales, services, consultation, real estate marketing, REO/HUD homes, buyer and seller representation and leases in the Dallas Fort Worth Metroplex. With multiple office locations our REALTORs and Brokers serve the entire DFW Metroplex and cover Collin, Denton, Dallas, Parker, Rockwall, and Tarrant Counties. We believe in Exceeding Expectations of our clients. We provide professional representation for all of your real estate needs. From buying and selling to investing, you can have confidence that you are working with area professional REALTORs and local experts who will give you the support and attention that you need and strive to meet your real estate needs. Our professional REALTORs strive to be one of the most tech savvy agents and well trained real estate sales associates in today's real estate market. For more information about our real estate company and services please contact us directly.
If you are interested in a career in real estate or already have a real estate license but wish to learn more about our company please email us at Careers@jpar.net directly to schedule an interview. We offer our agents 100% of their commission, company leads, training and coaching from TOP Producers without having office, desk fees or marketing fees ever. At JP And Associates REALTORS we strive to exceed our Clients AND our Associates expectations. WWW.EXCEEDINGEXPECTATIONS.INFO
Plano ISD school, great location, close to major freeways, shopping ,
"Introduced to Lori by my sister almost a year ago. Lori was not only a thorough professional at providing suggestions for preparing my house for the market, but she was also extremely personable and knowledgeable. Throughout my interactions with her I never felt pressured to reach a decision, instead Lori took the time and effort to research and substantiate her recommendations with facts and shared her opinions .
Lori Oliver always acted in favor of my best interests from the beginning to the very end. I would recommend Lori without any second thought to prospective buyers and sellers and can guarantee a similar experience to that which I had with her.."