For all those tax professionals out there....What are some crucial steps the seller should take to sell and close on the sale of a home before the end of the year?

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Elizabeth R. Elstien, Realtor turned real estate writer & educator (Self Employed at Elizabeth R. Elstien: Write, Research, Edit, Sell, Educate)

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Rainmaker
1,728,156

Sandy Padula & Norm Padula, JD, GRI

HomeSmart Realty West & Florida Realty Investments - , CA

Presence, Persistence & Perseverance

Depends on what tax bracket you will be in if you close this year versus next.

Sep 26, 2016 11:33 PM

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3

Elizabeth R. Elstien

Eugene, OR
John McCormack, CRS

Albuquerque, NM
Ron and Alexandra Seigel

Carpinteria, CA

Rainmaker
4,319,773

Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Elizabeth R. Elstien - this is more of a 'motivation' question! If they want it, they can do it!

Sep 26, 2016 04:31 PM

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2

Tony and Suzanne Marri...

Scottsdale, AZ
Praful Thakkar

Burlington, MA

Rainmaker
1,664,136

John McCormack, CRS

Albuquerque Homes Realty - Albuquerque, NM

Honesty, Integrity, Results, Experienced. HIRE Me!

Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 get the gold star on this one.

Sep 27, 2016 01:25 AM

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1

Sandy Padula & Norm Pa...

, CA

Rainmaker
991,252

Jennifer Mackay

Counts Real Estate Group, Inc. - Panama City, FL

Your Bay County Florida Realtor 850.774.6582

Not a tax professional - do we have that many of these here?

Sep 27, 2016 12:37 AM

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1

Jessie Cochran

Panama City, FL

Rainmaker
5,583,328

Barbara Todaro

RE/MAX Executive Realty - Happily Retired - Franklin, MA

Previously Affiliated with The Todaro Team

Norm has this one....

Sep 27, 2016 12:25 AM

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1

Sandy Padula & Norm Pa...

, CA

Ambassador
6,418,120

Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

What type of property are you asking about here?

Sep 27, 2016 05:51 PM

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Rainmaker
4,960,530

Will Hamm

Hamm Homes - Aurora, CO

"Where There's a Will, There's a Way!"

Call their C P A

Sep 27, 2016 09:19 AM

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Rainmaker
4,434,177

Gita Bantwal

RE/MAX Centre Realtors - Warwick, PA

REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Kenneth has a good answer.

Sep 27, 2016 06:04 AM

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Rainmaker
1,506,013

Ryan Huggins - Thousand Oaks, CA

https://HugginsHomes.com - Thousand Oaks, CA

Residential Real Estate and Investment Properties

Taxes? We don't need no stinkin' tax knowledge to answer this! Price it right and market the heck out of it.

Sep 27, 2016 02:51 AM

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Rainer
232,019

Jessie Cochran

Counts Real Estate Group, Inc. - Panama City, FL

Panama City Realty Group

Is that a tax question?

Sep 27, 2016 01:01 AM

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Rainmaker
5,772,581

Ron and Alexandra Seigel

Napa Consultants - Carpinteria, CA

Luxury Real Estate Branding, Marketing & Strategy

Elizabeth,

The majority of real estate agents do not have the letters CPA after their names. And if they do (one of our clients does), he still refers tax question to those who continue to be active in the CPA business. We do not advise on any tax issue! A

Sep 27, 2016 12:20 AM

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Rainmaker
1,157,791

FN LN

Toronto, ON

Most tax professionals are not familiar with the nitty gritty of the steps of how the real estate industry operates.

Sep 26, 2016 11:21 PM

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Rainmaker
5,239,029

Wayne Martin

Wayne M Martin - Chicago, IL

Real Estate Broker - Retired

If you have to sell, sell. That is the objective. Too much attention to taxes!

Sep 26, 2016 10:59 PM

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Rainmaker
1,617,916

Harry F. D'Elia III

WEDO Real Estate and Beyond, LLC - Phoenix, AZ

Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Some great advice for the seller

Sep 26, 2016 10:33 PM

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Rainmaker
2,817,727

Debbie Gartner

The Flooring Girl - White Plains, NY

The Flooring Girl & Blog Stylist -Dynamo Marketers

I would consult a CPA.

But, here's one tip...have seller gather all receipts for capital improvements as this may reduce capital gains tax.

Sep 26, 2016 09:57 PM

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Rainmaker
3,071,489

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

Praful Thakkar nailed this one!

Sep 26, 2016 09:28 PM

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Rainmaker
1,846,901

Lyn Sims

Schaumburg, IL

Real Estate Broker Retired

Has nothing to do with taxes. It might just be nice to finish out the year & get on with life in general.

Sep 26, 2016 09:24 PM

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Rainmaker
7,863,184

Roy Kelley

Retired - Gaithersburg, MD

Smart home buyers understand the benefits.

Sep 26, 2016 08:31 PM

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Depends on what tax bracket you will be in if you close this year versus next.
Elizabeth R. Elstien - this is more of a 'motivation' question! If they want it, they can do it!
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 get the gold star on this one.
Not a tax professional - do we have that many of these here?
Taxes? We don't need no stinkin' tax knowledge to answer this! Price it right and market the heck out of it.
Elizabeth,

The majority of real estate agents do not have the letters CPA after their names. And if they do (one of our clients does), he still refers tax question to those who continue to be active in the CPA business. We do not advise on any tax issue! A
Most tax professionals are not familiar with the nitty gritty of the steps of how the real estate industry operates.
If you have to sell, sell. That is the objective. Too much attention to taxes!
I would consult a CPA.

But, here's one tip...have seller gather all receipts for capital improvements as this may reduce capital gains tax.
Has nothing to do with taxes. It might just be nice to finish out the year & get on with life in general.