3.8% Sales Tax Added onto the Sale of Your Home!

Yes, you really did read this correctly. Individuals making over 200K and couples who make over 250K, you will now be facing an additional investment tax when you sell your primary residence! Yes, this is true! This was instituted when our Health Care Bill was adopted! So if your proceeds top your normal and pre-existing exemptions and capital gains, you’ll be paying a 3.8% tax on your proceeds! Essentially, you could be paying $3,600 per 100K made on the sale of your home!
Ouch!

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Attention Military: $8,000 credit incentive has been extended!

ATTENTION MILITARY: The $8,000 First Time Home Buyers Tax Credit has been extended for ONE MORE YEAR for those who have served outside the U.S. for at least 90 days from January 1, 2009 to April 30, 2010 or those who were forced back to the U.S. due to medical reasons before the 90 days was fulfilled. The extension is to April 30, 2011 to have a home under contract and close by June 30, 2011. This also applies to those in the U.S. Foreign Service and Intelligence Community.

Dancing Star Realty stays on top of important issues especially for our service men and woman. A special Thank You to our military for their vital service to our Country!

Call Dancing Star Realty – 877-488-2234 and let them assist you with your real estate needs.