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Deal Report

June 07 - NC Home Tax Legislation
Bills now being considered in the North Carolina General Assembly would force people selling their home to pay a 1% sales tax. For example, if you own a $200,000 home, you would be forced to pay $2,000 to the government when you sold your home. And the fact is you will not be able to vote on this legislation, so that's why it's important for you to contact your legislator to let them know that you oppose new taxes on homeownership.

July 07 - How Real Estate helps build wealth?
Consider a $200,000 home at a 6% interest rate?
The interest paid on the home is $12,000, with esti-mated property taxes of $2,400. By itemizing, you will reduce your taxable income by $14,400. Assum ing a 25% tax bracket, those deductions will trim $3,600 off your tax liability. The most important thing that is not factored here is the appreciation which will be tax free assuming you sell according to IRS rules. > Contact Us to discuss.

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