To accurately calculate real estate capital gains, always keep track of the capital improvements on your property. When you sell the property, you will need to add these amounts to your total purchase cost and subtract that from the net sales price. Of course, you may have your homestead exclusion to apply against this as […]
The mortgage interest deduction is based upon interest on a million dollar loan….maybe not! #TuesdayTip
Just because I get this small benefit from property tax on my home in another state does not mean I can’t claim Homestead in Florida…..OOPS!!! Please call our office at 772-234-5500 to speak to Attorney Robin Lloyd about the Homestead Laws and owning property in multiple states.
So I own my home in Florida and have it homesteaded but I rent it out once a year……..woops!! Am I in trouble? Please call our office at (772) 234-5500 if you have any questions regarding renting your homestead property.
Will the Estate Tax Law change as a result of the 2018 Congressional Elections? This is the big question, depending on your answer will decide whether or not you have to do something today to lock in your $11, 180,000.00 exemption by the proper use of Trusts. Robin A. Lloyd, Sr. Esquire
At the end of the year we were assured that we were getting tax stability. Suddenly we would have a tax code that both businesses and individuals could rely on for a stable future. You would know the rates, deductions and credits for years to come. Planning would be a simple matter and change would […]
The Senate narrowly passed its Tax Reform Bill in the early hours of Saturday morning, with a 51-42 vote in which no Democrats voted in favor of the bill. This marks a significant achievement toward real tax reform, as the House and the Senate now enter conference to merge the House Tax Bill and […]
November 14, 2017 On Thursday, November 9, 2017, the Senate Finance Committee released its version of the proposed Tax Cuts and Jobs Act, on the heels of the House’s Tax Cuts and Jobs Act released earlier and discussed here. Although the Senate Bill purports to achieve the same tax reform goals as the House Bill, […]
November 7, 2017 Last week, Republican members of the House of Representatives released their platform for tax reform moving forward. The piece of legislation, called the 2017 Tax Cuts and Jobs Act (“TCJA”), looks to implement significant reform to individual tax rates, corporate tax rates, pass-through entity rates, and deductions. The Act also proposes important […]
As quickly as Estate Tax Repeal faded off the tax reform radar a few months ago, it came flying back into view about a week ago. On September 27, the GOP “Big Six” coalition, derived of members of the House Ways and Means Committee, the Senate Finance Committee, and the White House, released its […]