Taxes Archive

3.8% Tax: What’s True, What’s Not

Ever since health care reform was enacted into law more than two years ago, rumors have been circulating on the Internet and in e-mails that the law contains a 3.8 percent tax on real estate. NAR quickly released material...
October 9, 2012

Obama: Don’t Take Away MID for Middle Class

Commentators, bloggers, and the Twitterverse have been abuzz with praise for the rousing speeches coming out of the Democratic National Convention in Charlotte, N.C., this week, culminating Thursday night with President Barack Obama accepting his party’s nomination. But now...
September 7, 2012

MID Platform Win Shows Impact of Activism

If you ever wondered whether getting involved in political activities is worth your time, consider the impact your real estate colleagues Shirley Wiseman and April Newland, among others, have just had on an issue that impacts more than 70...
August 23, 2012

Republican Platform Support for MID a Win for Home Owners

Republicans writing their party platform for their upcoming 2012 convention in Tampa next week inserted language specifying their support for the mortgage interest deduction. As described in a piece in the Wall Street Journal today, the language says that,...
August 22, 2012

Reminder: 3.8% Tax to have Minimal Real Estate Impact

Tax time is nearing and once more rumors are circulating on the Internet and by e-mail that the health care reform law enacted two years ago includes a 3.8 percent transfer tax on real estate starting in 2013. That...
February 15, 2012

Budget Again Includes Unpopular Curb on MID, Other Deductions

The value of the mortgage interest deduction (MID) and other itemized deductions for wealthier households would be trimmed in the fiscal 2013 budget proposal President Barack Obama released yesterday, but as in the previous three years, the proposal is...
February 14, 2012

Help for Repaying Home Buyer Tax Credit

When the first-time home buyer tax credit was enacted in 2008, in the aftermath of the housing crisis, it was structured as a no-interest loan and taxpayers who used it had to pay it back over time (in annual...
February 2, 2012

La. Ballot Win Is About More Than Transfer Taxes

By Robert Freedman, Senior Editor, REALTOR® Magazine After fighting a transfer tax battle in their state about half a dozen years ago and several local efforts to impose a similar tax more recently, the leadership of the Louisiana REALTORS®...
November 30, 2011

Obama Jobs Plan Includes Real Estate Effort

By Robert Freedman, Senior Editor, REALTOR® Magazine The $447 billion jobs initiative President Obama introduced last night, called “The American Jobs Act,” contains some pieces that aim to boost home mortgage refinancing, rehab homes, cut taxes for small businesses, boost...
September 9, 2011

Debt Ceiling Deal Keeps MID Risk Open

By Robert Freedman, senior editor, REALTOR® Magazine The contentious debt ceiling deal enacted into law earlier this week as the Budget Control Act of 2011 doesn’t say anything about what programs should be cut and how tax benefits might change, but because it...
August 4, 2011