There are a lot of considerations to keep in mind when someone is selling a home. Buying and selling homes are often the biggest financial transactions a person will engage in throughout their life. When the buyer's offer is accepted and every line of the contract dated and signed, the seller should be aware of the implications of the sale, particularly any applicable tax implications. While most home sales are exempt from capital gains taxes, there are some situations that will trigger a tax. Understanding these before putting a home on the market can help avoid surprises after the fact.
What Is Capital Gains Tax?
Any large or valuable asset, such as an investment account, a vehicle or a home, can be considered a capital asset. If a person
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When selling a home, the majority of homeowners tend to stay in the dwelling at least until a solid offer is made from a sure-thing buyer. This means that the process of staging a home will differ somewhat from the process when the home is unoccupied. Here's what sellers should know to boost buyer interest through proper staging techniques for when potential buyers come in for home showings.
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