155 – Tax Bill Implications with Boomer Foster
Boomer is the President of Long & Foster Real Estate. Today we’ll be going over the new tax bill, and how it’s going to affect Realtors and the market in general.
In this episode, you’ll learn..
- Mortgage Interest Deduction now capped at $750,000 in loan debt.
- State and local property tax deductions now capped at $10,000.
- Exclusion for Capital Gains on owning real estate were preserved at prior levels.
- Interest paid on home equity loans no longer deductible unless the loan was used to significantly improve the residence.
- Moving costs no longer deductible.
- How this will affect us.