If you like many home sellers have contemplated how to minimize your capital gains tax other than through a 1031 Exchange, read on.
You may well have contemplated selling your home until you saw how much capital gains tax will be imposed on such a sale and what you actually would walk away after the sale. Most likely your considerations concern maintaining your current lifestyle, being able to retire, and conserving your home's equity and value gains.
But an ordinary sale where capital gains tax is due that is difficult to do and to justify selling, even if you wish to downsize. Many baby boomers, therefore, are remaining in their home because it is difficult to do just that.
The good news is that in this case knowledge truly is power and can save you almost the entire capital gains tax due. Additionally, the strategy we are referring to here can be more advantageous than a 1031 exchange. It also serves as an estate planning tool. Allow me to explain.
Your tax liability can actually be addressed with a deferred sales trust, a specialized tool that you set up. A deferred sales trust defers estate taxes and puts the saved tax monies into a trust account. Other benefits of deferred sales trust include:
* maintaining family wealth
* estate liquidity
* retirement income
* probate avoidance when combined with proper estate planning
* lowering or entirely eliminating ownership risk
Obviously, there are subtleties to this tool and to better understand it, please call or email for an in-depth consultation. And visit our website here.
Rare modern three level town house in coveted Zephyr Gate of West Oakland. High ceilings, engineered hardwood floors, bountiful light shines through large floor to ceiling windows. Open second level...
1,652 sq ft
Listing provided by Michael Sarkissian, Zephyr Real Estate
PANORAMIC VIEWS of the bay, mountains,city lights,SFO., neighborhood. Quiet, court location. Clean & very well maintained in many years by current owners.4-beds, 3-baths, family room, 2-car garage. Convenient court location.
1,990 sq ft
Listing provided by Rose Nunez, Rose Nunez Realty, Inc.
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2,000 sq ft
Listing provided by Jonathan Minerick, HomeCoin.com
This rarely available 2-level corner unit at 200 Brannan has been tailored to suit the most discriminating buyer. Outstanding recent remodel, the convenience of main-level entry, 24 hr concierge services,...
Brand new luxurious single family home by well known Green Builder Clarum Communities. This home features a high-performance, energy-efficient design with a spacious open floor plan and modern finishes. A...
2,861 sq ft
Listing provided by Samuel Pilli, Engel & Voelkers San Francisco
2235-2237 Bay Street is a classic marina-style duplex located in the heart of the vibrant Marina District. Both units boast hardwood floors, incredible scale, wood-burning fireplaces, and original moldings. The...
3,480 sq ft
Listing provided by Neill Bassi, Sotheby's International Realty
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LUMINA features a collection of luxury, move-in ready residences at Folsom and Beale Streets. Upper tower residences feature stunning views of the city and the bay. Designed by Bernardo Fort-Brescia...
880 sq ft
Listing provided by Garrett Frakes, Polaris Pacific
Listing information deemed reliable but not guaranteed
Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS®, but is not warranted.