• Home
  • Attorney Profiles
    • Jordana Sarrell
    • Steven A. Sarrell
    • Adam J. Bender
  • Areas of Practice
    • Association Law
    • Real Estate Transactions
  • Blog
  • Testimonials
  • Home
  • Attorney Profiles
    • Jordana Sarrell
    • Steven A. Sarrell
    • Adam J. Bender
  • Areas of Practice
    • Association Law
    • Real Estate Transactions
  • Blog
  • Testimonials
SARRELL, SARRELL & BENDER
  • Home
  • Attorney Profiles
    • Jordana Sarrell
    • Steven A. Sarrell
    • Adam J. Bender
  • Areas of Practice
    • Association Law
    • Real Estate Transactions
  • Blog
  • Testimonials

REAL ESTATE LAW BLOG

    Author

    Jordana Sarrell, Esq., LL.M.

    Categories

    All
    Homestead Exemption
    Permits
    Real Estate Contracts
    Real Estate Law
    Real Estate Taxes
    Same Sex Marriage
    Third Party Purchasers
    Title Insurance
    Title Review
    Wire Fraud

    Archives

    March 2018
    January 2018
    December 2017
    October 2017
    September 2017
    July 2017

    RSS Feed

Back to Blog

The New Tax Bill and its Effect on Real Estate:

1/9/2018

 
The new tax bill affects homeowners in several ways. Here are some of the highlights of how the tax bill can affect a homeowners. Feel free to contact the attorneys at SSB Law to answer any more questions you may have.

* Eliminates home equity deduction; interest home equity lines of credit will no longer be deductible whereas interest was deductible on equity lines up to $100,000.

* Reduces mortgage interest deduction limit to $750,000. While the deduction limit pertaining to mortgage interest drops to $750,000 of debt on your primary residence, it remains $1 million for homes purchased before Dec. 15 of this 2017.

* Retains current law treatment of capital gains from home sales.

* Doubles the standard deduction. The new law increases the standard deduction to $12,000 for single The new law increases the standard deduction to $12,000 for single filers and $24,000 for joint filers. filers and $24,000 for joint filers.

* Limits deduction for state and local income tax, real property tax, and sales tax (in the aggregate) to a maximum amount of $10,000. This only affects Floridians for our property taxes since we do not have state income tax.

* Does not reinstate the deduction for mortgage insurance premiums
1 Comment
read more
The Florence Residence LOGAN link
10/24/2019 05:12:54 am

good article that i'm searching for. will visit again

Reply



Leave a Reply.