As a Certified Public Accountant since 1972, Benjamin H. Moore, CPA and his staff can assist with the following areas: Tax Treatment on the Sale of a Home
Moving Expense Deductions
Florida Intangible Tax
Sale of a HomeGood News!! The gains on the sale of personal residences avoid income taxes if the following conditions are met:
1. The home is the taxpayer's principal residence for 2 of the last 5 years.2. Exclusion applies to only 1 sale every 2 years.
3. Single taxpayers can exclude up to $250, 000 and joint taxpayer up to $500,000.
4. Special rules apply to business use of the home.
1. Your move must be related to the start of work at your new job location.
2. You must move at least 50 miles from your former home to your new main job location.
3. You must work full time for at least 39 weeks during the first 12 months after you arrive at your new job location.
4. Special rules apply to the self employed and members of the armed forces.
1. Intangible property includes stock, bonds, accounts or notes receivable not secured by real property and mutual funds.2. Cash, retirement accounts and bonds issued by the state of Florida and the US Government are exempt.
3. Rates are .0010 of your portfolio.
