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Regular Sales
Every Tuesday
HORSE SALE
2nd Sat. lOa.m Every Month
STATE GRADE
FAT CATTLE 1st Tues , 1 p m. Every Month In addition to our regular sales on the 2"° Tuesday of each month, we will have a State Graded Feeder Cattle Sale - Consignments Welcome.
For further information call 364-1566
I mile east ol Marshall on FU 55
Real Estate gj
Eileen M. Day REALTOR “““
A TAX SHANGR1 LA
The Federal Government's policies encouraging home ownership have not abated. In fact, it has encouraged home ownership for the past century to an extent unparalleled in the world. Mortgage interest deduc tions alone amount to a national subsidy of $40 to $60 billion, and now, after tax reform, mortgage interest and property tax deductions were left untouched as virtually the only major deductions left for the average citizen.
Profits on the sale of a house go untaxed so long as the seller simply buys another home of equal or greater value within 2 years before or after the sale thus helping a family avoid taxes while building equ ity. Do this long enough and you avoid taxes altogether since the appreciated value remains untaxed when property is passed along to the next generation within a family.
People over 55 get a once In-a-lifetime exemption on the first $125,000 of capital gains on the sale of their principal res idence. We re in a homeowner's tax Shangri La.
If there is anything we can do to help you in the field of real estate please stop in at EILEEN M. DAY, Realtor. The Clopton House. Washington, Va. 22747. Phone 675 3033. We re here to help.
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