Tag Archives: taxes

2013 CAPITAL GAINS TAX UPDATE: The American Tax Relief Act

Capital Gains Tax Increases for Some Taxpayers     To avoid the so-called “fiscal cliff”, on January 1st, 2013, Congress passed the American Tax Relief Act of 2012 (TATRA).   TATRA made no changes to the 3.8% Medicare surtax¹, which went into effect – as scheduled – January 1, 2013.  TATRA did, however, raise the top capital

PROPERTY TAXES GO DOWN!! PROPERTY TAXES GO UP!!

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Tens of thousands of California homeowners are seeing the downside of the recovering real estate market: unexpected jumps in their property tax bills. Many homeowners believe their property taxes are limited to increases of no more than 2 percent annually because of Proposition 13, the landmark voter initiative approved in 1978. But fewer property owners

The looming January 1, 2013 “TAX CLIFF” is Prompting High End Listings

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Wealthy home owners are reportedly contacting their real estate agents with an urgent request: They must sell their home within the next five months, CNBC reports. Why are they suddenly in such a rush to sell? Wealthy home owners—those with million-plus home values—are seeing Jan. 1 as a deadline to sell their home in case

A Fresh Assessment

By Keith Loria Let’s say you just purchased a new home that has a large property tax commitment. You may be able to do something about it. In today’s housing market, having the property reassessed is very in vogue. “A tax assessment is an estimate on the value of your property solely for the purpose