The Miami real estate market is still booming! Home prices seem to be increasing overnight, and it is very tempting for many homeowners to cash out while the demand is exceptionally high. I am encouraging everyone to sell because we do not know how long this market will last, and the question that I am hearing a lot is: what about capital gains taxes?
While I am not a tax expert by any means, I did pull together some information about capital gains. I would always encourage you to speak to a tax professional before making any decisions, but the bullet points below give you some insight into capital gains.
– Each person, regardless of income, receives a $250,000 Capital Gains Tax Exemption if they meet the following requirements:
– Capital Gains Tax Rates:
Hopefully this information helps you make up your mind as to whether you will stay in your home or sell in this hot real estate market!
If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, or visit my website at: Luxury Miami Real Estate
My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.
Consistently in the top 10 company-wide at BHHS EWM Realty for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!