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Philadelphia Mainline, Villanova and Bryn Mawr Information:
About Philadelphia Mainline, Villanova and Bryn Mawr - Moving to Philadelphia Mainline, Villanova and Bryn Mawr, Pennsylvania? Get info here... School Reports - Reports for Philadelphia Mainline, Villanova and Bryn Mawr schools kindergarten, elementary, and high schools. Relocating? - Free real estate information & relocation package if you're relocating to Philadelphia Mainline, Villanova and Bryn Mawr, in Philadelphia, Montogomery County PA. Go to Main Sitemap - Main sitemap sections include Find Philadelphia Mainline, Villanova and Bryn Mawr Homes, For Home Buyers, For Home Sellers, Philadelphia Mainline, Villanova and Bryn Mawr Information, Real Estate Resources, and About Robin Gordon.
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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.
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| Q |
What island in the St. Lawrence River was given away on a television game show in 1964?
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| A |
Price is Right Island was given away by Bill Cullen on "The Price is Right." |
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