The IRS issued guidance Thursday evening to grant deadline relief for both 1031 like-kind exchanges and opportunity zone investments that are already underway. Both of these programs are designed to promote economic growth in communities, and NAR made the case that investors in these programs should not be harmed due to the effects of COVID-19. […]
Billionaire hedge fund manager David Tepper most profitable move last year might have been moving from New Jersey to Miami Beach. Can a headline get any more exciting? Tepper will save millions of dollars in state taxes several years from now, Bloomberg News reports. Florida has been pitching itself as a warm-weather tax haven to […]
The 1031 Exchange | A Miami Investors Tax Deferred Weapon of Choice The average capital gains tax across all states is 28.7 percent. Were you aware of the 1031 Exchange to defer taxes on your profit when you sell? If not, read on for the most effective loophole in netting you more and increasing your real estate portfolio […]
Significant RESPA ‘good faith estimate’ changes are coming. The new RESPA (Real Estate Settlement Procedures Act) regulations published on November 17, 2008, are going into effect on January 1, 2010. These changes were primarily enacted to protect borrowers against excessive loan fee charges and to make it easier for borrowers to understand their key loan […]
There are New Tax Credits for Home Buyers. Some good news for a change! Congress approved the extension of the $8,000 federal first-time home buyer tax credit, and President Obama signed the law into effect on November 9, 2009. The tax credit was supposed to expire on December 1, 2009, and has now been extended through […]
First-time homebuyers have exactly 273 (Dec 1st) days to buy a home if they want to pocket $8,000 tax-free. It’s not long. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid. Every homebuyer has unique circumstances, however, and specific questions. The National Association of Home Builders (NAHB) has […]
Amendment 1 has been Approved for new Tax Savings. Voters have said yes to Amendment 1. Realtors around the state expect buyers’ and sellers’ pent-up housing demand to generate an immediate increase in home sales following the passage yesterday of Amendment 1, which allows buyers to now take their Save Our Homes tax savings with […]
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