Anacortes Trick or Treat Event

Local Anacortes downtown trick or treat will take place on October 31st from 3 to 5pm in downtown Anacortes. Various downtown shops will be partaking, including Jean Groesbeck and Associates LLC at 809 7th St in downtown Anacortes. Just look for the treats being handed out!

For no tricks when it comes to real estate in Anacortes click here.

 

Jingles wishes you a safe and fun Halloween

 

Facts on the 3.8% Health Care Tax

A 3.8 percent levy on certain investment income was included in healthcare legislation two years ago, and now misinformation about the tax’s application to home sales is being passed along over the Internet and e-mail, throwing some prospective home sellers into a panic. In actuality, very few owners will be affected by the new tax taking effect in 2013.

The tax will only be on investment income of upper income taxpayers. Included in the definition of investment income is capital gains from home sales above a certain amount and for households whose income is above a certain amount. This means individuals who make $200,000 a year or more, or married couples who earn at least $250,000 a year are affected. Additionally, the tax is only applied to home sales if the proceeds exceed $250,000 for an individual, or $500,000 for married couples. And there still are other income and tax particulars that are considered before the 3.8 percent tax is triggered.

The National Association of REALTORS¬ģ has published a brochure on how the tax works.¬† If you would like a copy of the tax brochure please email, call or text and we would be happy to send a copy to you. To determine how the tax affects you, we suggest you contact a tax professional.

For accurate real estate information for Anacortes, La Conner, Bow, or anywhere in Skagit County, sign up for our blog on our website www.AnacortesLiving.com

If you would like to have graphs on real estate statistics emailed to you including real estate sales this year vs. last year, pending home sales this year vs. last year, average price of homes sold and more for Anacortes, La Conner, Bow, Mount Vernon, Burlington, Sedro Woolley, or any other city in Western Washington, just send us an email and we would be happy to send you charts monthly, no cost or obligation of course!

A Sales Tax When You Sell Your Home?

Several of our clients have been misinformed that there is going to be a tax on real estate transactions beginning in 2013. That is not true.

Beginning January 1, 2013 a new 3.8% tax on some investment income will take effect, but it WILL NOT be imposed on all real estate transactions.

What will be taxed is a 3.8% tax on SOME income from interest, dividends, rents less expenses, and capital gain.  The tax will effect individuals with an adjusted gross income (AGI) above $200,000 and couples filing a joint return with income more than $250,000 AGI.

For a more detailed explanation on how this new law might impact you, please contact your tax advisor.

This information is subject to change and is time sensitive.  This is not intended to be tax advice.

However, if you would like information on the real estate market in Anacortes, La Conner, Samish Island, Guemes Island, Bow, or anywhere in Skagit County, please give me a call.  I would be happy to provide you a complimentary market analysis of your real estate or show you homes for sale.