Boletín Informativo No. 132

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  123. Like the other commission lawsuits this suit is seeking class action status, with a class definition of all persons who listed properties on an MLS in Texas using a listing agent or broker affiliated with one of the defendants and paid a buyer broker commission from Nov. 13, 2019, to the present. The City of Killeen has adopted City ordinances for parking vehicles on private property to lessen congestion in the streets and to facilitate the flow of traffic throughout the city. The all-weather parking area and driveway shall consist of an asphalt or concrete surface. Vehicles parked in violation will be cited and will be required to be relocated to an all-weather surface. 5. The REPORT provided by PDI provides good-faith opinions or advice concerning the need for repair or replacement of certain observable items. The opinions are not statements of fact. By signing this Consulting Agreement, the CLIENT understands that the services provided by the INSPECTOR fall within the Professional Services Exemption of the Texas Deceptive Trade Practices Act (“DPTA”) and agrees that no cause of action exists under the DTPA related to the services provided. TPI expressly reserves the right to revise opinions as information changes and welcomes further relevant information.
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    Fortunately, the state tax rules allow for an exemption on capital gains of up to $250,000.00 of what you sold your house for if you are a taxpayer filing as a single person and up to $500,000.00 if you file as married. So, if you are single, your capital gains taxable amount is $50,000.00. The capital gains for the amount over the exemption amount are taxable at 2% of the total purchase price or 8.97% of the gain, whichever is higher. In the case of a $400,000.00 sale price and a $50,000.00 gain, you would pay the higher tax, which is 2% of the sale price or $8,000.00. Real estate investors generally need to pay income tax in the state the rental property is located in by reporting rental income and filing a non-resident tax return, even if the investor does not live in the same state the property is located in.

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