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Austin is the fourth largest city in Texas and the sixteenth most populous city in the nation. Located in the Central Texas Hill Country, Austin is approximately 230 miles from Mexico and less than 200 miles from 3 of the 10 largest U.S. cities (192 miles from Dallas to its north, 79 miles from San Antonio to its south, and 162 miles from Houston to its southeast). Austin is a beautiful, sunny city full of dualities. It brims with both southern tradition and quirky eccentricity. Walking downtown, you’ll likely pass by an historic warehouse that originally received horse-drawn deliveries, then look up to see the new Frost Tower with its sparkling glass-sheeted walls and a lotus-flower-like crown. While jogging under shade trees along Town Lake, it may seem difficult to believe that some of the nation’s most advanced technology centers are only a few miles away. Austin has something for everyone, from students to CEOs; musicians to athletes. SEARCH for Austin Homes for Sale!
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Tax Considerations >Tax Rewards for Homeowners
The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.
Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.
The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.
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Where would you go to visit the largest ancient castle in the world?
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You would travel to Prague, Czech Republic, to see the Prague Castle, built in the 9th century, with a total surface area of 18 acres. |
 See More Real Estate Trivia > |
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Delilah & Co.
Keller Williams Lake Travis
1921 Lohmans Crossing
Suite 100
Phone: (512)402-1330
Cell: (512)415-5364
Fax: (512)410-3538
Delilah: Delilah@WestAustinHomes.com
Delilah & Co.(WestAustinHomes.com) brings more to the table than anyone else when it comes to your real estate needs.
Whether you are buying, selling, or renting a property, Delilah & Co. (WestAustinHomes.com), the top producing team at Keller Williams Lake Travis office, utilizes the latest information technologies, market research, and business strategies to exceed all of your expectations.
Over the past years, Delilah & Co. (WestAustinHomes.com) has become one of Austin's most respected Real Estate teams. Our team ranks among the top producing teams in Austin and has received many local awards as well as been recognized several times in the Austin Business Journal.
Our motto at Delilah & Co. (WestAustinHomes.com) is to work hard, to be committed, to always bring integrity in every deal, and to put our clients first in every aspect of the buying and selling process. Our clients make us who we are!
Our goal is not just selling or buying homes or investment properties, it is to create LIFE LONG relationships by representing our clients from contract to close. We are truly dedicated to be the best team by offering the best service to our clients twenty-four seven!
From finding a great home to real estate investing, Delilah & Co.(WestAustinHomes.com) will find the real estate solution that is right for you. 
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