• Home
    • Realtor
    • Tax Benefits of Selling Real Estate in Santa Clarita

    Tax Benefits of Selling Real Estate in Santa Clarita

    Capital gains taxes are in the favor of home ownersThere are tax benefits to selling real estate in Santa Clarita and elsewhere in Southern California. Most people are aware of the tax benefits of home ownership and the ability to write off the mortgage interest paid when it comes to filing an annual tax return. In addition the tax laws regarding capital gains that are received when selling a home are in a home seller’s interests. If a home owner’s profit is $250,000 or less he does not have to pay a capital gains tax. Likewise if a couple owns a home together they can earn up to $500,000 tax-free profit off the sale of their home. This is one tax benefit that makes investing in a primary residence very appealing indeed.

    As with any advice – it is paramount that you verify it with other sources, and I don’t mean sources that are in different fields of business.  Check with your Tax Advisor or accountant to make sure the tax law has not changed with reference to “The Tax Benefits of Selling Santa Clarita Real Estate.” The same applies to talking with our Short Sellers in our offices about how them hiring us to negotiate a short sale for them will impact their future.

    There are a few rules to follow in the capital gains scenario of selling a home. The first rule is that the home has to be a principal residence. Another catch is that you must have lived in the home for two out of the past five years. Unlike the past however, when you had to buy another home within a specified period of time, you do not have to buy a new, more expensive home with your profit.

    The tax benefits of owning and selling real estate are what make owning a home more attractive than renting. Anyone who has steady income, money saved for a down payment, and good credit is in a great position to take advantage of high affordability levels when it comes to buying real estate. The investment can be a good one come tax time.

    Click here to learn more about real estate and capital gains from BankRate.com.

    As my dad always used to say, “You would always get a second opinion if it mean’t that much to you – make sure others do as well…”  -dad

    Here are a couple things that you will find of Value – if you have been considering selling your Santa Clarita Real Estate and need to find out how much it’s true “market value” is – Visit our Home Valuation Resource Page – The report takes 30 minutes to be generated but it is multi dimensional and quite complete.

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.
    Comments are closed.

    Contact Us Now

    Any questions, comments, or feedback

    SCVnest Radio Show (listen now)