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Pensacola Short Sale Tax Breaks
Pensacola Short Sale Tax Breaks
Pensacola Short Sale tax breaks are here. The American Tax Relief Act of 2012 (which covers the year 2013) was passed late into the night on Jan. 1, with the official signature from President Barack Obama coming on Jan. 2. This means that all taxpayers that make under $400,000 will enjoy "maximum capital gains" and a tax rate around 15 percent.
A capital gain is profit that results from a sale of a capital asset, such as stock bond or real estate. This also means that the housing market will continue its rise because people will be able to move due to the short sale tax benefits. On a typical short sale without the short sale tax benefit, a seller would have to pay income taxes on any debt that was pardoned by their mortgage company. But with this tax benefit, somebody who owes more on their home than what it is worth can simply do a short sale to alleviate this financial burden. At The Scott Gregory Team, we have closed more than 100 short sales while working with some of the biggest lenders in the process: Bank of America, Citi, Wells Fargo, Chase, Sun Trust, etc. The Scott Gregory Team is a “mega agent” team at Keller Williams Realty Gulf Coast (Keller Williams Realty Pensacola) that specializes in residential sales, investment properties, Pensacola Short Sale tax breaks, and has extensive experience in getting homes sold in a changing market (from regular sales to distressed sales). When you buy or sell with The Gregory Team, you get a full team at your service. They can help you buy or sell property anywhere in America. Local market areas include Pensacola, Navarre, Navarre Beach, Pensacola Beach, Gulf Breeze, Milton, Pace, Fort Walton Beach, Mary Esther, Perdido Key, Cantonment and Destin. Sellers, buyers and referrals are always welcome. Call us at 850-501-2574 or email to gregoryteampensacola@gmail.com. They are here, Pensacola short sale tax breaks.
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