Selling real estate? Know your stuff with Capital Gains Taxes
Most (though not all) people who sell a principle residence that they have lived in for at least the last two years don’t have tax consequences when they sell, but what if your property and situation doesn’t fit into that nice little box? Beware Uncle Sam, if for no other reason than to know what kind of tax bill you are looking at when you are deciding to sell. It might also inform some strategies to minimize your tax liability. Here’s a great article that explains a broad range of these situations, but consult a capable tax professional.