taxes: Top Ten Things You Need to Know About the 3.8% Investment Tax on Home Sales
- 01/15/13 12:24 AM
This article was published today in the Houston Association of REALTORS weekly newsletter. Just thought everyone might be interested to know what's in store for the 3.8% investement (including real estate) tax for 2013: "Top Ten Things You Need to Know About the 3.8% Investment Tax on Home Sales David Mendel, January 14, 2013 Almost immediately following passage of the Health Care and Education Reconciliation Act of 2010 and Patient Protection and Affordable Care Act in 2010, a series of emails began circulating around the Internet, most with a kernel of truth but largely made up of misinformation. A new round … (2 comments)
taxes: 9 Documents That Will Help You Reap Real Estate Tax Benefits
- 02/06/12 11:09 AM
Technically speaking, April 15th is tax day. But for Americans who expect a refund - including many homeowners who want to cash in on real estate-related tax perks - filing sooner holds the promise of getting that check in hand, stat. If you count yourself in that number, here’s a handy guide for 9 pieces of paper you should be sure to round up as you prepare to file, in order to reap every penny of the tax rewards you’ve earned by virtue of owning a home. Mortgage Interest Statement - IRS Form 1098. The meatiest real estate tax deduction on … (0 comments)
taxes: 5 Tax Tips, Tricks and Traps for Homeowners
- 03/03/11 12:50 AM
Ask a roomful of homeowners what's so great about owning versus renting, and you'll hear them holler in unison: "the tax deductions!" And it's true - homeowners who itemize their taxes are able to deduct 100% of their mortgage interest and property taxes from their income tax returns.That means that if you're in a 28% tax bracket, Uncle Sam effectively subsidizes about a third of your borrowing costs or more, making your home more affordable or allowing you to buy a larger home than you could have otherwise. Also, big chunks of your closing costs are tax deductible, and hundreds of … (0 comments)
This article was published today in the Houston Association of REALTORS weekly newsletter. Just thought everyone might be interested to know what's in store for the 3.8% investement (including real estate) tax for 2013:
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