What The Tax Cuts and Jobs Act Means to Homeowners, Investors, and Real Estate Professionals

The Real Estate Show unveils What The Tax Cuts and Jobs Act Means to Homeowners, Investors, and Real Estate Professionals on today's Live Show heard locally in South Florida on 3 radio stations and streamed Live worldwide on AutomaticLandlord.com.

Four months all the headlines spoke about the upcoming major overhaul of the US tax code. The was to make many sweeping changes and a great deal of simplification of our tax system. Then last week the final bill was passed. Now begins the long process of reading, understanding, interpreting, and positioning ourselves to take advantage of the new set of rules. Most important to the Real Estate show listeners are What The Tax Cuts and Jobs Act Means to Homeowners, Investors, and Real Estate Professionals.

The National Association of Realtors (NAR) is one of America's largest and strongest political forces. The NAR worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investments, as well as to ensure as many real estate professionals as possible, would benefit from the proposed tax cuts. As a result, many of the changes reflected in the final bill were a product of the influence of the National Association of Realtors and its members.

Some of the big wins resulting from the NAR's efforts were that they helped save the exclusion for capital gains on the sale of a home, and preserved the like-kind exchange for real property. Many agents and brokers who earn income as independent contractors or from pass-through businesses will see a significant deduction on that business income. These are just some of the provisions worth becoming more familiar with in the new code.

On another note, as a result of the changes made throughout the legislative process, NAR is now projecting slower growth in home prices of 1 to 3 percent in 2018. Nevertheless, strong demand, and low inventory will still likely result in price gains. On the other hand, certain local markets, especially those in high cost, higher tax areas, could see some price declines as a result of the new codes restrictions on mortgage interest and state and local taxes.

Today was just an introduction, stay tuned to future episodes and learn more about the impact on Real Estate Investing and learn HOW by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 8 o'clock (EST) on Florida's Money Talk Radio station WSBR AM740, FM 96.9, and FM 103.9. You can also hear us on the free apps: iHeart Radio and TuneIn and the WSBR AM740 app. If you miss the live show, Recorded Rebroadcasts are available 24/7 on Facebook. Please share our Facebook updates and listen to the rebroadcasts on demand on Facebook.com/TheRealEstateShow #TheRealEstateShow, #EricWillner, #ThirdHome, #Best
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