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Columbia Missouri Real Estate ~ Our Prudential Agents
Visit my web site! www.davemcc.com
Dave McConnell, REALTOR®
Dave McConnell
Dave has 24 years of experience in the Midwest in residential and commercial operations in marketing, merchandising, and business ownership, as well as experience developing residential property. He has dealt with details and solved problems in all areas of client service and has won top honors in several fields. He has extensive experience in client satisfaction, business management, and contract negotiations. He will apply this knowledge and expertise to your individual real estate needs to ensure that he is able to find or sell the perfect property for you, whether commercial or residential. You can see from his background that he has the experience and knowledge to handle all of your property needs quickly and efficiently.
Dave enjoys golfing, fishing, landscaping, and many other forms of outdoor recreation. Most of all he enjoys Missouri for its laid-back atmosphere and natural beauty. Married to Beverly and a resident of Boone County since 1995, he has his finger on the pulse of this area. His long time knowledge and appreciation of central Missouri are a real plus in providing individuals and businesses with a pleasant, skilled, and rewarding experience in all their real estate needs.
Office Phone: (573) 449-6200
Mobile/Cell Phone: (573) 881-0173
Fax: (573) 449-6202
Email: Dave@prudentialvision.com
Web Site: DaveMcC.com
US Mail & Office Location:
103B Corporate Lake Place
Columbia, MO 65203
Driving directions to the office:
- In Columbia, MO, take Providence south to Corporate Lake Drive
- Turn right onto Corporate Lake Drive
- Turn right onto Commercial
- We're on the right, behind Columbia Performing Arts Center
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Keep Receipts for Improvements
Money spent on your home should be tracked and documented for tax purposes in order to minimize the capital gain that you may owe tax on in the future. Capital gain simply means the difference between what you receive for the house when you sell it less what it cost you to buy the house -- with one important modification. The IRS allows you to add the cost of improvements to the original cost of your home in order to calculate what's known as your adjusted-cost basis.
Capital Gain = Net Sale Price - (Purchase Price + Capital Improvements)
For example, if you buy your home for $150,000 and, over the years, it appreciates so that (after paying the costs of selling) your net selling price is $200,000, your capital gain is $50,000. Keep in mind that the IRS allows you to add the value of the capital improvements that you make to your home to your purchase price.
A capital improvement is defined as money you spend on your home that permanently increases its value and useful life. For example, putting a new roof on your house rather than just patching the existing roof. If you made $10,000 worth of improvements on the home you bought for $150,000, your capital gain would be reduced to $40,000. Money spent on maintenance, such as fixing a leaky pipe or replacing broken windows, is not added to your cost basis.
Before you sell your home, be sure to understand the tax consequences of such a transaction. Many homeowners are eligible to shelter a large amount of their home's capital gain from taxation when the time comes for them to sell.
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