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2012 is the Time to Buy
"2012 is the Year to Buy Real Estate in the Poconos & Slate Belt Areas"
Meagan Lahey, Buyer Specialist
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James Galligan is one of The Top Selling Real Estate Experts™
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Stroudsburg, East Stroudsburg and Tannersville Information:
About Stroudsburg - Moving to Stroudsburg, Pennsylvania? Get info here... About East Stroudsburg - Moving to East Stroudsburg, Pennsylvania? Get info here... About Tannersville - Moving to Tannersville, Pennsylvania? Get info here... School Reports - Reports for Stroudsburg, East Stroudsburg and Tannersville schools kindergarten, elementary, and high schools. Relocating? - Free real estate information & relocation package if you're relocating to Stroudsburg, East Stroudsburg and Tannersville, in Monroe County PA. Go to Main Sitemap - Main sitemap sections include Find Stroudsburg, East Stroudsburg and Tannersville Homes, For Home Buyers, For Home Sellers, Stroudsburg, East Stroudsburg and Tannersville Information, Real Estate Resources, and About James Galligan.
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Tax Considerations >Beneficial Tax Laws American tax law offers a significant capital gains tax exemption that allows taxpaying homeowners to unlock home equity and end the spiraling cycle of "investing up." First-time buyers enjoy expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, rules that allow penalty-free withdrawals to purchase a home.
Every two years, married sellers of principal residences who file joint federal income tax returns are allowed a $500,000 exclusion ($250,000 for singles) from capital gains tax. For sales that took place after May 6, 2003, the maximum capital gains tax rates for profits above the exclusion dropped from 20% to 15% for higher income taxpayers, and from 10% to 5% for lower income taxpayers.
Homeowners can now consider several new options. People who find themselves at an empty-nester stage (no children at home) in a four or five bedroom home with a large equity have been able to unlock their equity dollars, using the income to help their children buy a first home, take a luxury cruise, remodel the house or purchase a second home for vacation or retirement.
Consult your tax advisor for advice regarding your particular circumstance.
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| Q |
What is the largest city square in the world?
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| A |
Located in Beijing, China, Tianamen Square, called the "Gate of Heavenly Peace", covers 98 acres. |
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