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The Tax Act of 1997 - moving resources and Christian community information -Entire USA/Canada - 800-395-8556

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We'll connect you with a great REALTOR« so you can purchase or sell your home and gain all the information you need to make your move and become a part of a new community!  We are committed to exceptional service with utmost integrity.

Tax Deductible Relocation Expenses
Taxpayer Relief Act of 1997


Tax Deductible Relocation Expenses
You may be able to deduct ten cents per mile of expenses associated with your move. Check with your tax professional for more details!



Taxpayer Relief Act of 1997

Good news! The 1997 Taxpayer Relief Act impacts home owners and prospective home owners very positively. We used to have to worry about capital gains taxes when we sold our principle residences. We wanted to ôsave ô the once-in-a-lifetime $125,000 exclusion on capital gains for when we reached 55 years of age. Often we have been ôforcedö to purchase a home of greater than or equal value to the home we recently sold to avoid paying capital gains taxes on the sale of our home.

The rules have now changed. Married homeowners filing a joint return can now exclude up to $500,000 of gain on the sale of their principle residence. Single homeowners can exclude $250,000 of gain. This exclusion can be taken as often as once every 2 years. We may take the exclusion as many times as we like as long as we have used our home as our primary residence for at least 2 out of the preceding 5 years.

This new law will enable empty nesters, retirees or transferees who may want to downsize or even rent a house or apartment to do so without worrying about capital gains taxes. They can simply exclude their gain and take the cash from the sale of their home and do whatever they want with it (*). This new law also enables divorcees to sell and purchase a smaller or less expensive home without fear of a big capital gains bite. Singles can stop worrying about whether a prospective spouse has a house to sell or whether they have already taken their once-in-a-lifetime exclusion (*).

The bottom line is that we now have much more freedom to buy and sell our homes without concern for capital gains taxes. (*) Use a prescreened, full time REALTOR« with utmost integrity recommended by the EXODUS Network to purchase or sell your next home. We are eager to serve!

* This is true only if your present home is worth less than $500,000 as a married couple and less than $250,000 as a single taxpayer.

 

This message is to first thank you for such a wonderful ministry! Our superb REALTOR´│Áp> Don has gone far and above the call of duty as a REALTOR´│Áp>.

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The EXODUS Network Abides by all the practices of the Fair Housing Law
The EXODUS Network is a licensed, Brokered network in the state of Michigan.

Annual Renewal as a Selected REALTOR´│Áp> is dependent on integrity, maintaining exemplary customer service and professionalism. The EXODUS Network selects individual agents, not entire companies. All referrals to these agents are given through a licensed Broker. Referrals are given to agents who pass through the screening, evaluation & annual renewal process.

* Definition of Staff: Selected Agents are NOT staff of the EXODUS Network. They are independent contractors who have been prescreened and continually submit to our strict evaluation processes regarding their customer service, integrity, professionalism and real estate.

Selected Agents are individual REALTORS´│Áp> all around the country. EXODUS referrals are passed from EXODUS' Broker to the licensed Broker that a Selected Agent is affiliated and licensed with. Becoming an EXODUS Selected Agent allows these agents to receive referrals from EXODUS, without changing their affiliation with their local broker.

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