President Biden has proposed a capital gains tax increase. At the time of writing this blog post, it has not yet passed. But, many are wondering how this increase would affect them when they sell their real estate holdings. When was capital gains tax implemented? Capital gains tax has been in existence as far back as 1913. Taxes were calculated at the ordinary tax rate of the time. The capital gains tax rate has been lower than the top ordinary income tax rate since the 1950s. The percentage of taxation…
When You Need to Sell Your House Now But It Isn’t Selling
Renting your home is a great option when you’ve been relocated and can’t sell your house. Are you relocating? If you took a new job in a new place, and you just can’t get your house sold, you’re probably feeling like you’re in a bit of a pickle. Whenever a home sells, it’s always our hope to close the sale within a certain amount of time. This is especially true when you’re relocating or need to sell your…