Real Estate Today opens doors for buyers and sellers with critical and credible information on the real estate market. It’s fast paced and fact packed with experts, interviews, call-ins, field reports, and timely market conditions.
Richard Gartland is a senior tax preparer at H&R Block, with more than 26 years of financial management experience ranging from real estate and corporate returns to serving as the CEO of a corporation with partnership interests. And if he sounds familiar, it’s because he’s also the spokesperson for H&R Block on their TV commercials this year.
Kay Bell is the tax expert at Bankrate.com since 1999. Kay’s also an author of several books, including The Truth about Paying Fewer Taxes. She’s got some great advice for homeowners.
Sandra Block is an Associate Editor at Kiplinger’s Personal Finance. Before joining Kiplinger, Sandra was a reporter and personal finance columnist at USA Today for over 15 years. Today, Kiplinger is the most widely-read business forecasting periodical in the world.
American author and humorist Mark Twain once famously said, “A lie can travel half way around the world while the truth is putting on its shoes.” In today’s world of instant social and digital media—with texts and tweets, email and Facebook, Twain’s observation is now truer than ever.
And once a rumor has been spread across the Internet it has a tendency to take on a life of its own. There is a misunderstanding about selling your home and a supposed new tax that’s been floating around for YEARS. And it’s tangled up in the Affordable Care Act – also known as President Obama’s health care overhaul, or Obamacare.
Whether you love it, hate it, or are indifferent to it, it’s important you understand how this expansive piece of legislation impacts you and your family. There is a common misunderstanding about a provision in the bill the affects the sale of real estate. You may remember seeing or hearing about a 3.8% real estate tax.
Continue reading “The Home Purchase Sales Tax Myth” »
Jordan Bennett is not only a REALTOR®… he’s a Certified Public Accountant. Jordan is a Broker with Keller Williams Realty in Mission Viejo, California and is a member of REALTOR® Magazine’s Young Professionals Network. He’s earned designations as an Accredited Buyers’ Representative and a certified Short Sale and Foreclosure Resource from THE NATIONAL ASSOCIATION OF REALTORS®. Before joining Keller Williams, Jordan audited Fortune 500 companies as a CPA with the K-P-M-G accounting firm.
Evan Liddiard is the Director of Tax Policy for THE NATIONAL ASSOCIATION OF REALTORS®.
HouseLogic.com is a free source of information and tools—from the NATIONAL ASSOCIATION OF REALTORS® — that can help you make smart and timely decisions about your home.
As you approach the deadline for filing your returns–whether you fill out the form yourself or have a financial professional complete your return– every taxpayer dreads Lines 73 and 76 on the 1040 form.
Line 76? That’s how much more you have to pay the IRS because you did not withhold enough taxes during the year. Ouch!
Line 73? That’s how much you OVERPAID the government. Sure you’re getting a refund, but UNCLE SAM was sitting on your money for a year. Money you probably could have used.
Paying income taxes promptly and properly requires careful planning. But what if you sold a bunch of stocks or bonds for a big profit last year? That’s income too. A special kind of income called Capital Gains. And depending on your filing status and how long you owned them, you could be paying up to TWENTY percent on that income.
But what if you are one of the millions of Americans who sold their homes last year for a profit? That profit is also a capital gain and could be subject to capital gains tax. Now if you are a homeowner, you have probably enjoyed deducting real estate taxes and mortgage interest from your income each year, minimizing your tax liability. But if you became a home seller last year, you are in for an even bigger tax benefit: The Capital Gains Exemption.
Continue reading “The Capital Gains Exemption” »
- Home Values Post Big Gains
- Booming Texas Housing Markets
- Parents Help Children Buy Real Estate
- Home Sellers Get Ahead Of Spring Rush
- Millenial ‘Must-Haves’ For Housing
- People Love Their Green Homes
- Tackling Housing Challenges
- Couples Buying Home Before Marriage
- Investors Are Sticking Around
- 29 Housing Markets Hit Peak
Continue reading “Top News Of The Week” »
It’s time to take a look at more of the latest facts and figures from across the country as we dig down into at the most recent existing home sales report from the NATIONAL ASSOCIATION OF REALTORS®.
And this week we’re going to look further into those existing home sales numbers, specifically at the condo and co-op market to see how that sector has influenced the housing numbers we saw in January.
Continue reading “Local Market Conditions” »