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03-13-2008, 09:31 PM
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| Capital Gains Tax....can I avoid it? I own my house-no mortgage.I want to buy another one to rent out.I have been told when I want to sell it to recoup the profit I have to pay Capital Gains Tax and the percentage is high. A)Is this true, B)What is the rate, and most of all C)Are there anyways to 'dodge' paying it? All financial experts please help me 'make my fortune!' bit more info-never thought to tell you. I don't pay income tax. I work part time but not enough to pay tax for 6 years. Won't be paying income tax in the future. Does this make any difference?      |
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