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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Chuck and Angela Fazio
OWNERS/BROKER
West USA Realty Revelation
Top 1% in the Nation!
4050 S Arizona Av #4 , Chandler, AZ 85248
Phone: 480-570-8020
Office: 480-722-9800
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Email: chuckfazio@NUMBER1EXPERT.com

Chuck and Angela Fazio are Owners/Broker of one of the Top Real Estate Companies in Arizona. Having an outstanding career in Real Estate, they've handled virtually every type of challenge during transactions and understand how to give impeccable custom service. Having clients from first time homebuyers to Multi- Million dollar Estates, you can't be in better hands for any Real Estate transaction. Some of their many accomplishments are Top 1% in the Nation, AZ Business Journals Top 10, West USA Realty's #1 Agents from 2002, West USA Realty's #1 Team, Members of the Presidents Circle and featured on numerous TV Shows about Real Estate. These are only a few of the reasons why so many people wouldn't trust their Real Estate needs with any other agent or company. Chuck and Angela have founded their company and their business on strong beliefs and are committed to your complete satisfaction.

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