Monday, August 22, 2005

Real Estate Update

August, 2005


It's school time again -just a reminder...be extra alert. Watch for children who might not be thinking about cars. We can all help to prevent tragedies.

"Who you gonna call?" -If you know someone coming this way or going that way, we have dedicated, caring Christian agents and loan officers across our great country who are ready and willing to serve you. Just call toll free 877-800-4300 or visit our web site www.Hismove.com and we'll take it from there.

A taxing question -Why should I pay tax on the sale of my own home when I bought it with after tax dollars? Good question. Congress, in all its collective wisdom, has addressed that issue. At this time you can exclude $500,000 of gain if married ($250,000 if single) if you lived in the property for at least 2 of the 5 years prior to sale.

But, what if I die? -Your heirs will receive a "stepped up" basis for tax purposes. Of course, estate taxes could come into play depending on the size of your estate. Your financial planner is trained in these areas

Speaking of taxes -You might want to take advantage of the Gift Tax laws and transfer some assets to your children while you're still alive! Again, contact your financial planner.

Our network is expanding to serve you better -Nearly 400 agents strong in 48 states and growing. We offer more services, too. Just visit our website at www.Hismove.com. Let us know what other things you would like to see offered...we're here to serve you!

Until next time,

Bart Smith
CEO -- Christian Real Estate Network

posted by Justin Smith @ 8/22/2005 01:44:00 PM 32 comments