Article Highlights Individuals can exclude up to $250,000 ($500,000 for a married couple filing jointly) of gain from the sale of their primary residence. Generally, to qualify for the exclusion, the home must have been owned and used as a primary residence for two of the prior five years. Reduced exclusions apply in certain circumstances where the home was owned … [Read more...] about Selling Your Home
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2013 Will Hit Higher-income Taxpayers Hard — Be Prepared
Now that Congress has passed the American Taxpayer Relief Act of 2012 (ATRA) and avoided the so-called “fiscal cliff,” higher-income taxpayers need to brace for higher taxes. There are numerous provisions in the ATRA that don’t provide the higher-income taxpayer any relief, and when these are combined with the provisions of the 2010 Affordable Health Care Act, higher-income … [Read more...] about 2013 Will Hit Higher-income Taxpayers Hard — Be Prepared