Ann Arbor real estate and homes for sale in Ann Arbor Michigan - Saline, MI real estate, Ypsilanti real estate - Missy Caulk and Team, REALTORS® Missy Caulk and Team REALTORS(r) for Ann Arbor, Saline, and Ypsilanti, Michigan real estate - NUMBER1EXPERTS™ Missy Caulk and Team NUMBER1EXPERTS(tm) for Ann Arbor, Saline, and Ypsilanti, Michigan real estate

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Missy Caulk and Team, REALTORŪ, real estate agents and broker for Ann Arbor, Saline, and Ypsilanti Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
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.

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Real Estate Trivia
Q 
Where is the world's oldest pyramid?

A 
The oldest pyramid is the Third Pyramid of Mycerinus is at El Gizeh, Egypt; it has the largest single block weighing 320 tons.
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Missy Caulk and Team, REALTORŪ, real estate agents and broker for Ann Arbor, Saline, and Ypsilanti Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

Missy Caulk & Team Ann Arbor Real Estate
Keller Williams Ann Arbor

2144 S. State Street
Ann Arbor, MI 48104
Direct Line: 734-821-0757
Office: 734-995-9400
Cell Phone: 734-216-2822
Fax: 734-864-1545
Assistants Direct Line: 734-944-6098
Email: Missy@MissyCaulk.com
Betty: basteele@comcast.net
Christa: Christa@ChristaCaulk.com
Patty: pnieman-beeson@cablespeed.com
Judy: Judy@JudyWhitfield.com

As a transplanted Southerner, I have lived and raised five children in the Ann Arbor area for the past 25 years. I know that this is a truly great place to live. My husband Mike (who personally trained our three quarterback sons) and I are deeply rooted in this warm and spirited community, which is a great advantage when it comes to finding your family the right home in the right place at the right price ! I get dozens of referrals every year from former clients, many of whom have become friends, because they value not only my professionalism and knowledge of the market, but my honesty and straightforwardness. Member of REMAX Hall of Fame, Platinum Club, Number 1 Top Producer in Remax Platinum. Purchasing a home is one of the bigger things we do in life. I promise you that the process of doing this, as well as the result, will be enjoyable and rewarding for both of us. In order to serve our clients, we have 4 Buyer Specialists available to give you the best possible service.

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Keller Williams Ann Arbor real estate and homes for sale in Ann Arbor, Saline, and Ypsilanti Michigan





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