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About Sherry McGrath - Information about Sherry McGrath of Gillette, Wright and Pine Haven, Wyoming Testimonials - Read what Sherry McGrath's clients are saying about the real estate marketing and services provided. Quick Response Guarantee - A quick response to your email request for more Wyoming home buying & property selling information is guaranteed by Sherry McGrath. Privacy Guarantee - This Gillette, Wright and Pine Haven real estate web site will respect your privacy, guaranteed by Sherry McGrath. No Obligation Guarantee - Sherry McGrath's real estate help by email is free & without obligation for Gillette, Wright and Pine Haven home owners in Wyoming. For Real Estate Agents - Let Sherry McGrath help you with your professional real estate broker and agent needs in the Gillette, Wright and Pine Haven area. About NUMBER1EXPERTS - NUMBER1EXPERTS are top real estate professionals, find out more. Contact Information - How to contact Sherry McGrath. Go to Main Sitemap - Main sitemap sections include Find Gillette, Wright and Pine Haven Homes, For Home Buyers, For Home Sellers, Gillette, Wright and Pine Haven Information, Real Estate Resources, and About Sherry McGrath. 
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Tax Considerations >Beneficial Tax Laws American tax law offers a significant capital gains tax exemption that allows taxpaying homeowners to unlock home equity and end the spiraling cycle of "investing up." First-time buyers enjoy expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, rules that allow penalty-free withdrawals to purchase a home.
Every two years, married sellers of principal residences who file joint federal income tax returns are allowed a $500,000 exclusion ($250,000 for singles) from capital gains tax. For sales that took place after May 6, 2003, the maximum capital gains tax rates for profits above the exclusion dropped from 20% to 15% for higher income taxpayers, and from 10% to 5% for lower income taxpayers.
Homeowners can now consider several new options. People who find themselves at an empty-nester stage (no children at home) in a four or five bedroom home with a large equity have been able to unlock their equity dollars, using the income to help their children buy a first home, take a luxury cruise, remodel the house or purchase a second home for vacation or retirement.
Consult your tax advisor for advice regarding your particular circumstance.
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| Q |
What are the financial benefits of having a home near a body of water?
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| A |
The mere presence of water within 300 feet increases a home's value by 22 percent. |
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