But by buying and selling smart, savvy couples can accumulate tax free wealth of $500,000…repeat…$500,000 (and that’s half a million dollars) in as little as 2 years.
Are you a savvy single? Individuals may take a tax free gain of $250,000.
The cool thing is…this is one of the few financial solutions that really requires no work, other than some research to buy and sell your home in a way that makes money.
Granted, your home must have appreciated during the time you own it, but having a tax free gain of $100,000 or $200,000 and more is very realistic.
The key is to buy when prices are down and sell when prices are high. This sounds like a “duh”, but it’s usually easier said than done…although there are simple tools to help identify real estate and other investment trends.
The other strategy is to simply be a smart shopper. Buy the ugly duckling that’s been on the market for months or years and make it beautiful.
Is this one of the many financial solutions that makes sense for you to grow money?
Here’s an article that explains it well from my tax savvy friend Kay Bell at Bankrate….
What’s the best tax break available to Jane and John Q. Public? If they’re homeowners, it’s selling their house.
Homeowners already know the many tax breaks that Uncle Sam offers, most notably mortgage interest and property tax deductions. Well, he also has good tax news for home sellers: Most of them won’t owe the Internal Revenue Service a single dime.
Click here to read the article in full …