Exit Taxes and What they Mean to YOU

There's been a lot of talk about the new concept of an "exit tax" when a home owner decides to sell their home and move. My biggest suggestion to the homeowners out there, even if you don't currently reside in NJ (just in case post COVID your state decides to implement such an idea) is to save your receipts. Any upgrades or repairs done to your home can help you in the long run when you go to sell your home. Save these receipts to reduce the amount of any potential gain you may earn on the sale of your home.

Check out the article enclosed for further information. As always, reach out to me if you have any further questions.