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You can sell your primary residence and avoid paying capital gains taxes on the first $250,000 of your profits if your tax-filing status is single, and up to $500,000 if married and filing jointly.
This relates to the concept of building equity in your home. Home equity is, on a basic level, the difference between your home’s market value and the amount you still owe on your mortgage. So ...
Credit cards. Credit cards can work fine for smaller improvements, but watch out for high interest rates. Consider using a 0% intro APR credit card to pay for expenses so you can make the most of ...
Property investment calculator is a term used to define an application that provides fundamental financial analysis underpinning the purchase, ownership, management, rental and/or sale of real estate for profit. Property investment calculators are typically driven by mathematical finance models and converted into source code. Key concepts that ...
A non-simultaneous exchange is sometimes called a Starker Tax Deferred Exchange, named for an investor who won a case against the Internal Revenue Service (IRS). [ 3 ] For a non-simultaneous exchange, the taxpayer must use a Qualified Intermediary , follow guidelines of the IRS, and use the proceeds of the sale to buy qualifying, like-kind ...
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The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), enacted as Subtitle C of Title XI (the "Revenue Adjustments Act of 1980") of the Omnibus Reconciliation Act of 1980, Pub. L. No. 96-499, 94 Stat. 2599, 2682 (Dec. 5, 1980), is a United States tax law that imposes income tax on foreign persons disposing of US real property interests.