"Enthusiasm, Knowledge, Expertise"
My husband Peter and I would like to express our sincere appreciation for the outstanding service we received from Lynne and Jim Knurr. Lynne and Jim sold our former home in Mukwonago, and helped us to purchase our new home in Cedarburg.
The sale of our former home presented many last minute challenges that would have overwhelmed many realtors and prevented a closing. But Lynne & Jim went "beyond the call of the duty" to make sure our closing occured on time as planned. They met the challenges and kept us informed in such a way as to avoid creating undue stress for us.
These are the 5th and 6th transactions that we have completed with Lynne and Jim in the past 5 years. Their enthusiasm, knowledge, expertise, and utmost professionalisim have resulted in our repeat business with Coldwell Banker Residential Brokerage.
Susan & Peter
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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.
In what U.S. home can you find the world's largest refrigerator magnet collection?
Louise Greenfarb of Las Vegas, Nevada has 35,000 unique fridge magnets that she has been collecting since the 1970's.
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