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Welcome - Get the best real estate listings & homes for sale, expert advice, local info, and much more from Paul Mruk and Barb Rapier, a proven Novi, Livonia and Farmington Hills, Michigan NUMBER1EXPERT™ Top Selling real estate agents. Find Novi, Livonia and Farmington Hills Homes - Find Novi, Livonia and Farmington Hills, Michigan real estate listings & homes for sale provided by Paul Mruk and Barb Rapier, your local expert real estate agents. For Home Buyers - Get home buying information, the latest listings, mortgage informaiton, expert advice, and much more from Paul Mruk and Barb Rapier, a proven Novi, Livonia and Farmington Hills, Michigan NUMBER1EXPERT™ Top Selling real estate agents. For Home Sellers - Get home selling information, fsbo information, expert advice, find out what your home and other homes in your neighborhood are selling for, and much more from Paul Mruk and Barb Rapier, a proven Novi, Livonia and Farmington Hills, Michigan NUMBER1EXPERT™ Top Selling real estate agents. Novi, Livonia and Farmington Hills Information - Find local information on Novi, Livonia and Farmington Hills, Michigan including schools reports, local maps and links, things to do, area photos, and relocation information. Local information provided by Paul Mruk and Barb Rapier, a proven NUMBER1EXPERT™ Top Selling real estate agents. Real Estate Resources - Find real estate related resources including real estate news, tips, dictionary, trivia, mortgage calculators and information, local real estate related services, and much more from Paul Mruk and Barb Rapier, a proven Novi, Livonia and Farmington Hills, Michigan NUMBER1EXPERT™ Top Selling real estate agents. About Paul Mruk and Barb Rapier - Information about Paul Mruk and Barb Rapier including testimonials, guarantees, credentials, and contact information. Learn why Paul Mruk and Barb Rapier is a proven Novi, Livonia and Farmington Hills, Michigan NUMBER1EXPERT™ Top Selling real estate agents. 
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Tax Considerations >Tax Implications of Selling Your House Most of my clients profit from selling their homes, and they often have questions about capital gains tax.
When you sell your primary residence, you are not taxed on your profit if (1) you have lived in the home for two out of the last five years and (2) your gain does not exceed $250,000 as a single taxpayer or $500,000 as a married couple filing jointly. Gains above these limits are taxed at the current rate of 15% for higher income taxpayers and 5% for lower income taxpayers. In 2008 the 15% rate will continue for higher income taxpayers; while the 5% lower income rate will drop to 0% for the 2008 tax year only. On January 1, 2009, the long-term capital gains tax rates will once again be 15% and 5% through 2010.
Homeowners can use this tax-free provision every two years. As set forth in the American Job Creation Act of 2004, properties converted from a 1031 exchange property into a primary residence must be held and used as a primary residence for at least five years to qualify for the tax exemption.
Consult your tax accountant for more detailed information regarding your particular circumstance.
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| Q |
What is the world's longest frontier?
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| A |
At 3,987 kilometers (3,987 miles), the border between Canada and the U.S. is the longest in the world. |
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