Fort Lauderdale Real Estate | Fiscal Cliff
Dale Palmer & Associates would like to highlight an article from the National Association of Realtors about the “Fiscal Cliff ” and what provisions were on the bill that affect the Real Estate market.
A summary of the article:
Real Estate Tax Extenders
- Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014
- Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012
- 15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012
- 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012
Other provisions included for estate tax and capital gains.
For the full article, please see Real Estate Fiscal Cliff Bill.
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please see our website Fort Lauderdale Real Estate.