It now seems certain that dozens of tax provisions will be allowed to expire on Jan. 1, 2014. Among these are some very popular real estate-related deductions and tax breaks, including those for mortgage insurance premiums and the exclusion from income of the amount of debt forgiven by home mortgage lenders in short sales and mortgage restructurings. Also expiring are 50 percent bonus depreciation and the extremely generous $500,000 annual limit for writing off business property in one year under IRC Section 179. For details, see my column “Tax breaks real estate pros and their clients should be prepared to do without in 2014.” It’s possible that some or all of these deductions and breaks will be retroactively extended by Congress in 2014, but no one can confidently predict wha...
Dec 3, 2013 by Stephen Fishman
Nov 22, 2013 by Inman
Nov 25, 2013 by Stephen Fishman