HOW TO HANDLE CAPITAL GAINS TAXES WHEN SELLING PROPERTY IN FLORIDA

When selling a residence in Florida, you will not face state-imposed capital gains taxes, enhancing your profits. You ought to evaluate the Internal Revenue Service’s principal residence exemption if you've lived there for at least two of the past five years—allowing up to a $500,000 tax exemption for married couples or $250,000 for others. Upg