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: 3,832 About JP: Helping people is a passion for JP. While real estate is a full time career and profession for him. ...
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 team and our offices please contact us directly to set up an interview. We offer our agents 100% of their commission, company leads, training and coaching from TOP Producers with no office, desk fees or marketing fees ever.
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Do you really need an agent to sell your house in today’s market? He
"I would definitely recommend Melinda Jobe to anyone looking for a new home! From the moment I told her of my plans to sell my Mom’s home, she immediately gathered and shared comps and provided price recommendations. I felt very comfortable with the extent of her research and her suggestions. From there, Melinda replied promptly and clearly to me whenever I had questions. When I became a buyer, she was equally responsive and attentive. Melinda made herself available as soon as possible whenever I wanted to see a property. I trusted her opinion of homes we viewed, and she was helpful in pointing out positives and negatives about each home. When the time came to offer a contract on the home I bought, Melinda made all the right suggestions regarding price, option fee, etc. The closings of both homes also went so smoothly. During the entire process, I felt like I was in good hands. Her work was thorough and professional yet personal. Thank you, Melinda!