WAYS TO MANAGE CAPITAL GAINS TAXES WHEN SELLING PROPERTY IN THE SUNSHINE STATE

When selling a property in Florida, you don't encounter state capital gains tax, enhancing your returns. You may want to think about the IRS's main home exclusion if you've resided in the property for two out of five previous years—allowing up to $500,000 in exempted gains for spouses or $250,000 for single filers. Improvements can raise your rea