Narberth, Wynnewood, Bryn Mawr and Merion real estate and homes for sale in Pennsylvania - Evie Cohen, REALTOR® Evie Cohen REALTOR(r) for Narberth, Wynnewood, Bryn Mawr and Merion, Pennsylvania real estate - NUMBER1EXPERT™ Evie Cohen NUMBER1EXPERT(tm) for Narberth, Wynnewood, Bryn Mawr and Merion, Pennsylvania real estate
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Evie Cohen, REALTOR®, real estate agent and broker for Narberth, Wynnewood, Bryn Mawr and Merion Pennsylvania home listings, property and land for sale - NUMBER1EXPERT(tm)

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Real Estate Tips
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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Real Estate Trivia
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What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?

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One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million.
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Evie Cohen, REALTOR®, real estate agent and broker for Narberth, Wynnewood, Bryn Mawr and Merion Pennsylvania home listings, property and land for sale - NUMBER1EXPERT(tm)

Evie Cohen
RE/MAX Executive Realty

610 Old Lancaster Road
Bryn Mawr, PA. 19010
Main: 610-520-0400
Direct: 610-520-0823
Cellular: 610-574-8800
Fax: 610-717-1711
Toll Free: 800-521-0414
Email: EvelynCohen@NUMBER1EXPERT.com
Email: ev_sells_re@msn.com

Evie has lots of information to provide to you about schools, communities, and cultural activities, so take a moment to get acquainted with the ease of the website. With over 25 years of helping people improve their lifestyle, Evie Cohen has established herself as a leading Realtor in the suburban Philadelphia area. Knowing the market place, guiding and counseling clients through the “buying” and “selling” process, evaluating the needs of clients and providing a sense of humor and patience to complete a SUCCESSFUL transaction is what Evie Cohen excels at. For you, knowing that almost 98% of Evie's business is repeat or referrral business can insure that Evie knows how to get the job done for YOU with experience and dedication. Evie specializes in residential real estate: condos, homes, townhomes and residential lots. Licensed since 1983, Evie has been awarded many honors in real estate both from the local board of Realtors and RE/MAX International. Among them are the coveted RE/MAX HALL of FAME Award, RE/MAX Chairman's Club Award, RE/MAX Lifetime Achievement Award and RE/MAX Platinum Award. But the most important award Evie receives is a call from a satisfied previous client referring her to someone new. That's what is exciting and challenging, helping someone find their dream home! Maybe you want to be part of that group too! Don’t put it off…Be in touch! Call or email Evie today!

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RE/MAX Executive Realty real estate and homes for sale in Narberth, Wynnewood, Bryn Mawr and Merion Pennsylvania

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