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Welcome > Local Info > Hempfield, Manheim Township and Lancaster Information ...

About the Hempfield, Manheim Township and Lancaster, Pennsylvania Area

Request my Free Hempfield, Manheim Township and Lancaster Relocation Package. It's packed full of useful and important information about the Hempfield, Manheim Township and Lancaster, Pennsylvania area. Don't move here without it! Remember: I'll send it to you for free and without obligation. Just fill out the form and I will send it right out...

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School Reports in Hempfield, Manheim Township and Lancaster, Pennsylvania

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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 was the location for the classic silent movie scene where Harold LLoyd dangles from a huge clock high above the city?
A	That scene from "Safety Last"was filmed at the Brockman Building, one block south of the Biltmore Hotel in Los Angeles.
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Jeff Peters, REALTOR®, real estate agent and broker for Hempfield, Manheim Township and Lancaster, Pennsylvania home listings, property and land for sale - NUMBER1EXPERT(tm)

Jeff Peters
RE/MAX Associates of Lancaster
570 Lausch Lane, Suite 100
Lancaster, PA 17601
717-581-4737
Fax: 717-560-7728
jeffpeters1@NUMBER1EXPERT.com
As a life long resident of Lancaster, I have a deep knowledge of the different communities within the county. Working with new home sales and corporate relocation for over 10 years, I have been successful in finding homes for Hundreds of Families. Representing both buyers and sellers, I strive to exceed all my client and customer's expectations.

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