How to Manage Capital Gains Taxes When Selling Property in Florida
When offloading a property in FL, you will not face state-imposed capital gains taxes, boosting your returns. You may want to think about the IRS's principal residence exemption if you've occupied the home for at least two of the past five years—granting up to a $500,000 tax exemption for spouses or $250,000 if unmarried. Improvements can increas