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"Thank You For Helping" "Brian and I would like to you for helping us with our house." "Our dream house. "Brian, Mindy and family. Read Quote >
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For Home Buyers:
Why Buyers Choose Mike Morgen - Why homebuyers looking for a real estate agent in the Appleton, Kimberly and Fox Cities area choose Mike Morgen.
Latest Listings - Get Mike Morgen's latest Appleton, Kimberly and Fox Cities listings of homes for sale first!
Find Your Perfect Home - Mike Morgen will search for your ideal home and email you the newest Appleton, Kimberly and Fox Cities MLS listings of properties in Outagamie County WI.
First Time Homebuyers - Are you a first time homebuyer in Appleton, Kimberly and Fox Cities, WI? Choose a top real estate agent. Mike Morgen can guide your home buying search.
Mortgage Prequalification - Pre-qualify for a mortgage or loan for your Appleton, Kimberly and Fox Cities house or other real estate or property.
Go to Main Sitemap - Main sitemap sections include Find Appleton, Kimberly and Fox Cities Homes, For Home Buyers, For Home Sellers, Appleton, Kimberly and Fox Cities Information, Real Estate Resources, and About Mike Morgen.

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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 information does nearly every state in America require the seller of a home to reveal to the buyer?
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| A |
Most states require disclosure of any existing problems or conditions that could affect the value of the house. |
See More Real Estate Trivia > |
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