Uncategorized May 18, 2021

Capital Gains Tax Rates (and How to Minimize Them)

Profits earned from the sale of real estate are also taxed as capital gains, even if you sell your primary home. However, there is a large capital gains tax exemption that allows you to avoid paying taxes on up to $250,000 in gains as a single filer or $500,000 as a joint filer if you meet certain requirements, including living in the home for at least two of the five years prior to the sale. There are a few key ways you can minimize capital gains taxes, click the photo to learn more. You may always contact me for a conversation, or a referral to an excellent estate planning attorney.