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<B>SCARED BY NEWS STORIES<B> about the current real estate market? "It's not as bad as you heard."
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Request My Free Relocation Package. Don't Move To Palatine and Arlington Heights Without It!  Moving your family to another town or state is a major event in your life! I have helped many families and individuals relocate to and from the Palatine and Arlington Heights, Illinois area. If you will be moving to the Palatine and Arlington Heights area, we can correspond by email and phone. Together, we'll determine what type of home, price range, and neighborhoods you are interested in. I'll send you every home or property that is currently available that matches your criteria. When you visit, I'll be ready! We will visit the Palatine and Arlington Heights neighborhoods and homes that interest you the most. In addition, we can talk about schools, sub-divisions, local market conditions, local culture... anything that is important to you. Remember: As a top Palatine and Arlington Heights real estate agent, it's my job to know this area inside and out, and I want to make your transition as smooth as possible. To get started, fill out the form to request my FREE Palatine and Arlington Heights, Illinois Relocation Package. I'll send it right out. It's full of useful and important information about this area. You are under no obligation, so you can't go wrong... Are you new to the area? Request my FREE package of Palatine and Arlington Heights relocation information. It's my job to help! There's no obligation, and I promise to respond quickly...
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Tax Considerations >Tax Rewards for Homeowners
The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.
Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.
The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.
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| Q |
What is considered one of the greatest U.S. construction projects that was also of great strategic importance to the U.S.?
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| A |
The Panama Canal, begun in 1904 and completed in August, 1914, which cost $366,650,000. |
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