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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John Beshk, Designated Broker

The Beshk Group, Inc.
1409 W. Crystal Spring Dr.
Gilbert, AZ 85233

Chandler Branch
908 W. Chandler Blvd., Suite 2, Bldg D.
Chandler, AZ 85225

Mesa Branch
1355 N. Greenfield Rd.
Mesa, AZ 85205

Office: 480-214-5347
Direct: 602-309-8888
Fax: 480-302-7921
Email: John@TheBeshkGroup.com

John Beshk has been assisting Arizona home buyers and sellers with their real estate needs since 1992 and has helped hundreds of individuals and families realize their dream of home ownership. Every buyer and seller has different wants and needs, which makes finding an experienced professional like John and The Beshk Group, Inc. a necessity. John and his team of professionals can provide you with the individualized attention and service you deserve.

John is certified by the Arizona Department of Real Estate and Maricopa Community Colleges to provide pre-licensing, appraisal and continuing education instruction for real estate agents and college students. All of his courses are open to the public and available at Mesa Community College.

John earned his Bachelor of Science in Finance from DePaul University and Master of Business Administration from the University of Phoenix. John has resided in the East Valley since 1986 and currently lives in Gilbert with his wife, Mickie.

John is the Designated Broker for The Beshk Group, Inc. a family owned and operated real estate firm that prides itself on creating and maintaining sound relationships with its past, present and future clients.

You can contact John by telephone, email, request information through his website or by appointment at his Gilbert, Chandler or Mesa offices.

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