Is stress making you frustrated and irritable? Stress relievers can help restore calm and serenity to your chaotic life. You don't have to invest a lot of time or thought into stress relievers. If your stress is getting out of control and you need quick relief, try one of these tips. Virtually any form of physical activity can act as a stress reliever.
You will pay taxes on a home sale on amounts of gain in excess of the excludable amount. This type of gain will be taxed at the capital gains tax rate. If youâve owned the home less than one year, any gain over the excludable amount will be taxed at a rate that will be the same as your ordinary income tax rate.
For example, if you close on your home Nov. 1 and the seller has paid the taxes through Dec. 31, then you're responsible for paying two months of real estate taxes to the seller. If the annual taxes are $1,200, then you'll see a $200 real estate tax expense on your closing costs for the two months you owe.