Blog / 2018 / January

2018 Tax Bill

January 30th, 2018

Hey All! We are starting a new monthly video blog with real estate tidbits for your viewing pleasure.

This month’s Tuesday Tidbit is all about the new Tax Bill. A few quick items to note for 2018:

-Standard deduction is raised to $12,000 for single filers and $24,000 for joint filers.

-Tax deferred 1031 real property exchanges will still be allowable.

-Mortgage interest deduction is still available on new loans below $750,000.

-Capital gain rules remain the same.

As always, we advise you to consult with your tax professional regarding how these changes might affect you personally.

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