by kramoltz@hotmail.com | Aug 19, 2025 | Taxes
H.R. 1, nicknamed the Big Beautiful Bill, is now law and its tax provisions effect your real estate. Of paramount importance to millions of homeowners is that the mortgage interest deduction has been permanently extended – up to a $750,000 cap. Previously...
by kramoltz@hotmail.com | Sep 17, 2024 | Taxes, Uncategorized
Americans who are deciding on a city to relocate to and want to minimize the cost of housing should take into account property tax rates. According to Rocket Mortgage Hawaii has the cheapest residential tax rates (although the high home prices offset that benefit),...
by kramoltz@hotmail.com | Jul 18, 2024 | Arizona and Its Amenities, Home Ownership, Taxes
USA Today surveyed the cost of living in each state. Criteria for the rankings were median income and five expenses: home ownership costs, groceries, health care, income tax and the cost of gasoline. The three most expensive states to live in were Hawaii, California...
by kramoltz@hotmail.com | May 9, 2022 | Global Buyers + Foreign Investment, Selling Your Home, Taxes
When a foreign person sells U.S. real estate, 15% of the sale price will withheld. However, U.S. formed entities like limited liability companies are not themselves considered to be a foreign person so withholding would not apply (although their members may be...
by kramoltz@hotmail.com | May 25, 2021 | Canada and Canadians, Taxes
You may have to file a U.S. tax return if you’re a Canadian that received money from a U.S. source while here in 2020. Since travel here last year was presumably limited due to border closures this may not be much of an issue this year. But those who worked in the...
by kramoltz@hotmail.com | Jun 29, 2020 | Home Ownership, Taxes
Prior to January 1, 2020, an owner of solar panels was entitled to a 30% credit against federal income tax owed. In 2020 the credit was reduced to 26%. In 2021 the tax credit drops to 22%, and after that year it disappears. To qualify, a system needs to be “placed in...
