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What Would You Do With an Extra $151,657?

You can save hundreds of thousands of dollars in taxes by selling now, before the next round of tax legislation goes through, which could be as soon as December 2021.

According to CNBC, the current proposal being discussed is to raise the capital gains tax rate from its present average of around 15% to as much as 39.6%.

Orange County

Let’s say an individual purchased a typical* Orange County home in 2012 for $483,150, and then sold it in 2021 for $1,100,000. This gives a realized capital gain of $900,000:

Capital Gains or Capital Losses?

The above table does not account for capital improvements that may have been made (i.e. additions and remodeling).
  • At the current average rate, the individual would be liable for $92,473 in taxes, leaving $309,357 in their pocket.
  • Under the new proposed legislation, the tax burden could increase to as much as $244,130, leaving $372,360 in their pocket.

Riverside County

Let’s say an individual purchased a typical* Riverside County home in 2012 for $196,050, and then sold it in 2021 for $560,000. This gives a realized capital gain of $363,950:

Capital Gains or Capital Losses?

The above table does not account for capital improvements that may have been made (i.e. additions and remodeling).
  • At the current average rate, the individual would be liable for $92,473 in taxes, leaving $309,357 in their pocket.
  • Under the new proposed legislation, the tax burden could increase to as much as $244,130, leaving $372,360 in their pocket.
*Median single family home values are per the California Association of Realtors and can be viewed [here].

If adopted, it will likely go into effect on or about December 31, 2021.

We highly recommend consulting a tax professional to develop an accurate strategy for your specific situation.

If you are in a position to take advantage of today’s historically high market values, this is yet another reason to act now and let us help you get your home listed.

With over 35 years in the home selling business, Ultimate has successfully predicted many market trends and, right now, our recommendation is SELL! SELL! SELL! 

WE CAN MAKE THE SALE OF YOUR CURRENT HOME 100% CONTINGENT ON YOU FINDING THE HOME OF YOUR DREAMS AND IF YOU DON’T FIND IT, YOU DON’T HAVE TO MOVE.

Let us streamline the process of maximizing the profits on your current home and get you into the home of your dreams! Our direct line (714) 203-1669 or send an email to office@UltimatePropertiesSold.com.

Your Home's Value

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  • Please remember that this is just an estimate of your home’s value. For a more precise valuation we welcome the opportunity to meet with you and give you pricing recommendations based on its unique characteristics. Ultimate’s team has vast experience in selling both resale and new home communities.

    Ultimate has the added benefit of perhaps selling in your community when they were brand new, which gives Ultimate the edge as we know your home from the inside -out, from top to bottom, and know all of the great feature benefits.

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Our company is much more than your usual resale company. We are a premier new home sales company with over 35 years’ experience selling throughout Southern California.

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