All Posts in Category: Taxes

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2018 Tax Reform and Real Estate – What Does it Mean for Me?

Federal Tax Reform Tax reform in one year. It was hairy, but we pulled through. Now that it’s law, what did change and what stayed the same with regard to your home or real estate? What of tax reform and real estate? Exclusion of Gain on Sale of a Primary Residence You may or may…

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2 Homeownership Tax Deductions Disappearing This Year

As Realtors, we are advocates for home ownership, by definition. It’s in our pledge: “To protect the individual right of real estate ownershipand to widen the opportunity to enjoy it” Many of us contribute personal funds (not tax-deductible) to fund grassroots campaigns designed to alert our membership and the public about issues in our nation…

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Get the REAL Facts on Mortgage Interest Deductions in Idaho

Interesting reading from the Ada County Association of REALTORS®. Of the approximately 399,498 owner-occupied houses in Idaho in 2009, 278,102 or 70% had a mortgage.In 2008, 194,063 taxpayers in Idaho claimed a deduction for mortgage interest. The total amount deducted was $2,054,503,000. This means that the average taxpayer claiming the MID deducted $10,587 from taxable…

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Tax Credit Ends Friday!

ATTENTION ALL PROCRASTINATORS!If you are a potential tax credit Buyer, or know someone who is, here is your friendly tap-on-the-shoulder reminder: You must be have an accepted contract by this Friday, April 30th to qualify. If you have not yet completed your property identification and negotations, you must act now! Don’t risk losing out on…

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Homebuyer Deadline Looms

Homebuyers Deadline LoomsThere are only 6 weeks remaining for homebuyers who plan to take advantage of the Federal tax credits to identify their next home and successfully negotiate a contract! The extended 1st-Time Buyer Tax Credit and the expanded “Move-up” Credit both require qualified Buyers to be in contract by April 30, 2010 in order…

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