Calculating and Minimizing Your Capital Gains Tax on Home Sale

Calculating Capital Gains Taxes on Home Sale

Home prices are on the rise, potentially leading to a higher tax bill when selling your primary residence. It's important to understand how capital gains taxes are calculated to avoid unexpected expenses.

Minimizing Your Tax Liability

• Keep Records: Proper documentation can help reduce your capital gains tax bill.
• Primary Residence Exemption: Utilize the primary residence exclusion to minimize tax implications.

Understanding how capital gains taxes work and implementing strategic measures can help you effectively manage your tax obligations and secure your financial future.