REAL ESTATE NEWS
Substantial changes have been made to the federal tax code for the new year. The new law almost doubles the standard deduction for 2018, but personal and dependent exemption deductions are eliminated. This will benefit some taxpayers and harm others. The Tax Reform Bill will have some effect on housing. #taxreformbill #propertytaxes #millsact
The L.A. Loft Blog offers this article on the points that could affect Los Angeles real estate the most:
1. Exclusion of gain on sale of a principal residence
2. Mortgage Interest Deduction
3. State and Local Taxes (SALT)
Get more details in this special update that covers the evolution of the tax reform changes since its original proposal and its impact on residential real estate. TAX REFORM AND HOUSING: FREE REFERENCE GUIDE
The most popular tax break for Downtown lofts continues to be the Mills Act property tax savings. Get a free list of Mills Act lofts in Southern California. Fill out the online form:
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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.