NAVIGATING CAPITAL GAINS TAX IN FLORIDA

When offloading a residence in the Sunshine State, you will not face a state-level capital gains tax, enhancing your earnings. You may want to evaluate the IRS's principal residence exemption if you've occupied the home for two of the last five years—allowing up to a $500,000 tax exemption for spouses or $250,000 if unmarried. Upgrades can raise