CPA Peter Baker, a principal of Business Planning Group in Washington, D.C., a firm that specializes in real estate agents and brokers, answers questions about 2018 taxes for real estate professionals and how they are effected by the new tax plan. (See Tip #1) Tax Tip #2: Most real estate professionals are sales associates […]
Areas Most Impacted by Tax Law
NAR conducted an analysis to identify which metro areas will be most affected by the new tax law provisions. For each metro area, the calculations included the share of homes with mortgages that are worth over $750,000 and share of owners who paid more than $10,000 for real estate taxes. The map shows how many […]
C.A.R. Comment on Tax Bill Being Voted on This Week
“We’re still reviewing the exact details of the 500-page bill,” says C.A.R. President Steven White, but what is known is that the limit for the mortgage interest deduction (MID) will be reduced from the current $1 million to $750,000 on mortgages for a first or second home, and the deduction of state and local tax […]
Dec. 4 – CVAR At A Glance
Featured Classes and Events This Wednesday: 22nd Annual Holiday Installation Breakfast Dec. 5 | Mortgage Loan License Renewal Dec. 6 | CVAR Installation & Holiday Breakfast Dec. 7 | CVAR Caravan Dec. 7 | Techmas Forum – Free Tech Ideas Dec. 12 | Broker/Sales Cram Course Dec. 15 | Gov Hutchinson Legal Update / […]
What Senate Vote Means for Real Estate
Early Saturday morning, the U.S. Senate, by a vote of 51-49, passed legislation that would change the face of homeownership in this country for decades to come. The House passed its own version of tax reform Nov. 16. A last-minute change to the Senate version would make up to $10,000 in property taxes deductible for […]
Nov. 20 – CVAR At A Glance
Event Recap! Featured Classes and Events Nov. 20 | CRMLS Training – Free – West Nov. 22 | Mortgage Loan Officer Renewal Nov. 23-26 | All CVAR Offices Closed for Thanksgiving Dec. 6 | 22nd Annual Holiday Installation Breakfast Click for more classes and events Client Tip: Avoid 5 Holiday […]
Now What? Fight to Alter Tax Bill Has Just Begun
Last week the House passed a tax reform package that the National Association of REALTORS® calls a tax hike on many middle-class homeowners and says would lower property values for all homeowners. “It’s disappointing to see this legislation move forward, but the real work to shape this debate is just getting started,” NAR President Elizabeth […]
Nov. 6 – CVAR At A Glance
Featured Classes and Events Nov. 6 | CRMLS Training – Free Nov. 7 | Supra Maintenence 8 p.m. (see image) Nov. 7 | Break Through Business Barriers Nov. 8 | New Member Orientation – with Live Stream Nov. 10-11 | All CVAR Offices Closed for Veterans Day Nov. 13 | CRMLS Training – […]
Should REALTORS® Fear Tax Plan?
Republicans announced their new tax plan, the Tax Cuts and Jobs Act, last week, and the National Association of REALTORS® (NAR) says that it “appears to confirm many of our biggest concerns.” “The proposal being debated is a clear and present danger to our businesses, to homeownership, and to our communities,” said Kevin Sears, NAR’s […]
NAR, C.A.R. Oppose Congressional Proposal
C.A.R. and NAR are opposing the “Big Six” Congressional Tax Reform proposal that will soon be considered by Congress, because it removes incentives for homeownership from the tax code and raises taxes on middle-class homeowners. “These incentives are critical for a strong housing market that creates jobs and builds stable communities,” said the NAR in […]