Articles relating to "Taxes":
NAR: Trump tax plan ‘well-intentioned’ but ‘non-starter’ (4/27/2017)
While backing major tax reforms, NAR fears that a proposal to double the current standard deduction would “effectively nullify the current tax benefits of owning a home” if most owners stop filling out the IRS long form.
Property tax cap heads to 2018 ballot (4/26/2017)
A Florida Realtors’ top legislative priority passed the Florida Legislature: In 2018, voters will have the power to make the 10% non-homestead property permanent.
Homeowners must pay IRS taxes on Airbnb rentals (4/3/2017)
If a home is rented out for at least two weeks, the owner must pay taxes on the profit; and hiding income from the IRS isn’t wise since proof can be found online.
Distressed homeowners? It’s bankruptcy season (3/31/2017)
April bankruptcy filings are up to 34% higher than other months, and March filings are up to 25% higher because people use their IRS tax refund to pay for it.
Residents of 39 U.S. states pay more taxes (3/14/2017)
A WalletHub study finds Fla. 10th best for total state and local taxes paid, 25th for real estate taxes, and eighth best for the cost of sales and excise taxes.
Study: Fla. property taxes average compared to other states (3/1/2017)
Fla. has no state income tax, but that doesn’t translate into higher-than-usual property taxes, according to a study that found Fla. 27th in a 50-state ranking.
Mortgage interest deduction could be irrelevant (2/10/2017)
The U.S. House’s first tax reform draft would keep the MID but, as proposed, most owners wouldn’t use it, and nixing 1031 exchanges remains a consideration.
Work begins to extend Fla. property tax increase cap (11/29/2016)
A constitutional amendment passed in 2008 – one that caps non-homestead property owners’ tax increase at 10% per year – expires in 2019. However, Florida Realtors strongly backs an extension, and voters might reauthorize it in 2018.