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Kirkwood, Webster Groves and Glendale Information:
About Kirkwood, Webster Groves and Glendale - Moving to Kirkwood, Webster Groves and Glendale, Missouri? Get info here... School Reports - Reports for Kirkwood, Webster Groves and Glendale schools kindergarten, elementary, and high schools. Relocating? - Free real estate information & relocation package if you're relocating to Kirkwood, Webster Groves and Glendale, in St. Louis County MO. Go to Main Sitemap - Main sitemap sections include Find Kirkwood, Webster Groves and Glendale Homes, For Home Buyers, For Home Sellers, Kirkwood, Webster Groves and Glendale Information, Real Estate Resources, and About John Jackson & Associates.
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Tax Considerations >Taxpayer Relief
Legislation included in the 1997 federal budget made significant changes that improve a homeowner's ability to profit from the sale of real estate.
The capital gains tax exclusions on the sale of a principal residence is just one of several benefits for homeowners. When you sell a home you have owned and use for two of the five years prior to the sale, married couples are allowed to keep up to $500,000 in tax-free profits and taxpayers filing as singles can keep up to $250,000 before paying capital gains tax.
Long-term capital gain is also taxed at lower rates as a result of the Jobs and Growth Tax Relief Reconciliation Act passed in 2003. The maximum capital gains tax rates dropped from 20% to 15% and from 10% to 5%, effective for sales and exchanges taking place on or after May 6, 2003 and through December 31, 2007. In 2008 the 15% rate continues for higher income taxpayers, while the 5% rate for lower income taxpayers drops to 0%, but only for the 2008 tax year. On January 1, 2009, the 10% and 20% rates will be reinstated.
Consult your tax advisor for advice regarding your particular circumstance.
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| Q |
Where would you go if you wished to stay in the world's most expensive hotel room?
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| A |
The Imperial Suite at the President Wilson Hotel in Geneva, Switzerland, which can be reserved for $33,000 per night. |
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John Jackson & Associates
RE/MAX Suburban John Jackson and Associates
338 South Kirkwood Rd., #105
Kirkwood, MO 63122
314-909-8850
Fax: 866-996-3232
johnjackson@remax.net
For the second year in a row, John was recently named one of the Top 25 Realtors in St. Louis by the St. Louis Business Journal. Serving the communities of both St. Louis City and County, John and his associates bring unmatched market knowledge and cutting edge technologies to each maximize client results. Trust your real estate transaction to a professional! 
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