The “Tax Cuts and Jobs Act” became law on December 22nd. The Association of REALTORS® will be providing ongoing updates as to the legislation and how it affects home buyers, home sellers, and the business of real estate professionals.
The Association of REALTORS® at all levels (the Cape Cod & Islands Association of REALTORS®, the Massachusetts Association of REALTORS®, and the National Association of REALTORS®) worked throughout the tax reform process to preserve the existing tax benefits of home ownership and real estate investment, as well to ensure as many real estate professionals as possible would benefit from proposed tax cuts.
Many of the changes reflected in the final bill were the result of the engagement of the Association of REALTORS® and its members, not only in the last three months, but over several years and for that, it’s beneficial the industry has the Association of REALTORS® working to protect your clients interest and your own interest.
- Major Provisions Affecting Current and Prospective Homeowners
- Major Provisions Affecting Commercial Real Estate
- Major Provisions Affecting Real Estate Professionals
- Appendix 1 – Examples of How the Deduction for Qualified Business Income May Affect Various Real Estate Professionals
- Appendix 2 – Examples of How The New Law Will Affect the Tax Incentives of Owning a Home