|
Meet Kathy Irvine and The Irvine Team
The St. Louis Association of Realtors has recognized Kathy & her team as the top sales team for 10 of the last 12 years. With nearly 70 million dollars in sales in 2004, Kathy was honored for the 17th straight year as the TOP AGENT for the largest real estate company in the St. Louis area, Coldwell Banker Gundaker Real Estate & Mortgage Company. She was also 12th nationwide for Coldwell Banker. However, the most important recognition Kathy and the Irvine Team get is the steady stream of testimonials and repeat business from her clients. Her team sets the pace, provides the service you can count on, and is dedicated to achieving your real estate goals. The Irvine Team constantly leads the St. Louis real estate market with their excellence, professionalism and service. The Irvine Team... Nobody does it better... NOBODY!
Please Sign Up For The
Latest Listings and the Latest Real Estate News
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.
|
| Q |
What is considered one of the greatest U.S. construction projects that was also of great strategic importance to the U.S.?
|
| A |
The Panama Canal, begun in 1904 and completed in August, 1914, which cost $366,650,000. |
 See More Real Estate Trivia > |
|
|
|
- NUMBER1EXPERTS™ 
