Sep. 2, 2022
Pay no tax when you sell your home
There are several ways to reduce, defer or eliminate the tax on the sale of your valuable personal residence. The more time you have before a sale the more alternatives you have, and the better those alternatives will be.
Owen Kaye
Managing Partner
KFB Law Group
12100 Wilshire Blvd #245
Los Angeles , CA 90025
Phone: (310) 207-8008
Fax: (310) 207-8708
Email: owen@kfblawgroup.com
Western State Univ College of Law
John and Judy bought their Culver City home 20 years ago for $200,000. They are getting ready to retire and move to Carlsbad. The local real estate broker indicates a sale will net $3.5 million after expenses. The remaining mortgage is less than $100,000. They think – “Wow! We won’t spend more than $1 million on a new place. We can put the rest in savings for retirement income.”
Their CPA calculates the tax for John and Judy as follows: $...
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