Politicians in mostly Democratic high-tax areas say the new federal cap on state and local tax deductions hurts their residents. Yet the vast majority of those taxpayers never actually got the break in the first place, undermining a key criticism of the Trump tax...
The tax system will be under assault from now on - from the NYT: A majority of Americans are increasingly open to raising taxes on the wealthy. Lawmakers like Representative Alexandria Ocasio-Cortez and Senator Bernie Sanders have proposed revolutionary ways of...
The next election is 20 months away, but the discussion over Prop 13 is already heating up. It appears the fight is shaping up to be teachers vs. old guard. Excerpted from the LAT: That is where the California Schools and Local Communities Funding Act comes...
Today the FHFA announced that they have raised the Fannie/Freddie mortgage limit to $726,525 in high-cost areas: ...
This talking-head guy was trying to create a ruckus about the new limit on SALT deductions being the cause of the real estate slowdown, but he backed into what will be the real effect. Higher mortgage rates and the limit on SALT deductions might keep those who are...
This is a real estate blog, not political, but legislation gets passed that affects real estate decision-making. Here is what the HW said we can expect from the new HofR:...
I'd sure like to see the research that makes the C.A.R. think this idea will bring a flood of inventory because Prop 60/90 already cover this issue. The realtor bashing alone might be enough to sink this proposition: Would it be a merciful end to the “moving penalty”...
H/T daytrip! If you rent out your entire home or even a room in your home (or your vacation property) for at least 15 days in a given year, you can get a surprising tax break under Trump’s new federal tax law! How it works: As a short-term landlord, you can get around...
Big money is big money - a change in tax rate won't cause rich families to uproot everything and move to an inferior place. What is more likely to cause millionaires to move? "The tax policy changes examined in this report are very modest compared to the life-impact...
Geez, they're no fun..... The Treasury Department and the IRS announced in Notice 2018-54 that they intend to propose regulations aimed at countering the efforts of California and other states in their attempts to help taxpayers get around the new $10,000 cap on state...
