Capital gains
“My friend recommended that I use you to sell my property. I have an 8 unit apartment building in Pacific Beach that I want you to sell. When I do, will I have to pay 25% capital gains?”
***ANSWER:
I’ve got bad news and good news and better news for you…
Bad
Many people I talk to about capital gains totally forget that taxes will be due to our great state of California. California’s maximum capital gains rate is 9.3%.
Good
The federal capital gains rate was cut several years ago to just 15% maximum.
Better
With the right information and planning, there are several legal ways you can lessen, delay, or even entirely avoid paying taxes when you sell.
Give me a call and I’ll be happy to go over them with you. You can call me at (858)457-KENT…that’s 457-5368. Please also see your tax advisor.