"The National Association of REALTORS® (NAR) worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investment, as well to ensure as many real estate professionals as possible would benefit from proposed tax cuts. Many of the changes reflected in the final bill were the result of the engagement of NAR and its members, not only in the last three months, but over several years."
This article by NAR seems to be a good basic overview of the new 2018 Tax Bill as is relates to both current and new prospective home buyers. The information is broken down into sections and how it will impact the average home owner going forward. The topics include :
For information on your own personal situation, it is always recommended to consult an appropriate professional concerning legal and/or tax implications.
You can view and read the entire NAR article HERE
This article by NAR seems to be a good basic overview of the new 2018 Tax Bill as is relates to both current and new prospective home buyers. The information is broken down into sections and how it will impact the average home owner going forward. The topics include :
- Introduction
- Major Provisions Affecting Current and Prospective Homeowners
- Major Provisions Affecting Commercial Real Estate
- Major Provisions Affecting Real Estate Professionals
- Appendix 1 – Examples of How the Deduction for Qualified Business Income May Affect Various Real Estate Professionals
- Appendix 2 – Examples of How The New Law Will Affect the Tax Incentives of Owning a Home
For information on your own personal situation, it is always recommended to consult an appropriate professional concerning legal and/or tax implications.
You can view and read the entire NAR article HERE
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