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Welcome! Here You Can Find Great Information on Champaign, Urbana, Mahomet, Monticello, Bement Illinois Real Estate  Looking for homes? Search everything the web has to offer, right here! Don't miss our Feature Homes. Need local real estate information? We've summarized much of what is important about the Champaign, Urbana and Mahomet real estate market in this site. Need expert advice? No web site, large or small, can take the place of a top real estate agent. Not even ours! This site is filled with ways that you can contact us for one-on-one expert help and advice. That's our job. Contact us with confidence! we guarantee your privacy will be respected. And we offer the services on this site for free and without obligation. Why? we want to be YOUR real estate agent. As your trusted, professional real estate partner, we will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As a top Champaign, Urbana and Mahomet real estate agent, we have the experience and track record you are looking for. Please let us help. - Janet White & Associates
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"I Make it happen, You make it HOME!
| • | Confidence,Trust,Loyalty & the Realtor that Works for you. | | • | Find out why Janet is one of the Top Realtors
in the Champaign Urbana Area. Give her a call Today! | | • | Buy or Sell a Home with Janet & you can use her moving Trailer for free! |
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Tax Considerations >Tax Rewards for Homeowners
The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.
Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.
The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.
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| Q |
Where will you find the world's largest indoor waterfall?
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| A |
The lobby of the International Center in Detroit, Michigan has a waterfall of 114 feet, backed by 9,000 square feet of marble. |
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