Taxes Archive

Home Office Safe Harbor, Other Tax Changes

The IRS has made it easier for you to claim your home office deduction and it has increased the amount of deduction you can take for driving people to and from listings in your car. These are two of...
February 10, 2014

Surprised at Tax Time? Welcome, Friend

It seems like a no-brainer to deduct your home-office expenses at tax time, but how big of a deduction do you take? Victoria Gillespie, national director of business development for REALTORS® Federal Credit Union, a Division of Northwest Federal...

In a Long Tax Process, a Time to Stand Up

Tax reform is a topic that comes up every few years and now we’re at the beginning of another possible go-round, but this time it’s a little different because the Senate Finance Committee wants to start from scratch. That’s...
July 10, 2013

Main St. and the Internet: Closing the Tax Gap

The Senate this week is taking up legislation to even the tax-collection playing field between Internet retailers and bricks-and-mortar retailers. It’s an important issue for commercial real estate professionals, because their clients face a disadvantage against out-of-state Internet retailers...

Tax Reform, Fixing Mortgage Rules High on 2013 Obama Agenda

Coverage of the 2013 State of the Union speech: President Barack Obama in his first State of the Union speech since winning election to a second term said the federal government needs to streamline rules that are making home...
February 13, 2013

Tax Reform: REALTOR® Engagement to be Key

Tax reform remains a possibility this year and should the conversation about it begin members of Congress will benefit hearing from REALTORS® to reduce the chance they make decisions that could hurt markets, a lawmaker, Hill staff, and analysts...
January 31, 2013

House Passes Senate ‘Cliff’ Bill

NAR Government Affairs summary of “fiscal cliff” legislation as passed by the House and the Senate. UPDATE: President Barack Obama has signed the agreement into law. Access on REALTOR.org. Real Estate Provisions in “Fiscal Cliff” Bill On Jan. 1...
January 2, 2013

Senate ‘Cliff’ Bill Retains Mortgage Cancellation Relief

Tax rates would remain the same for most households and mortgage cancellation relief is extended in a budget package passed by the U.S. Senate early this morning to avert the so-called fiscal cliff. The House today could take up...
January 1, 2013

Update on Fiscal Cliff: What’s at Stake for Real Estate

Congress today (Dec. 31) continues to wrestle with what to do about the fiscal cliff, the hundreds of billions of dollars in automatic tax increases and federal spending cuts that take effect at the end of the year unless...
December 31, 2012

Consumers, Economists See MID Differently

There are academics and there are consumers, and on the topic of whether the mortgage interest deduction should be modified as the federal government looks for ways to shrink its budget deficit, the opinions couldn’t be more divergent. Consumers...
December 11, 2012