What the Passing of the ‘Cliff’ Bill Will Mean to You – Real Estate

January 7th, 2013 at 7:43 pm by Caroline Choi

What the Passing of the ‘Cliff’ Bill Will Mean to You – Real Estate

With the House recently passing the Senate’s ‘Fiscal Cliff’ Bill: here’s a snapshot of what it’ll mean to homeowners:

  • Mortgage Cancellation Relief — AMAZING news — extended through 1/1/2014
  • PMI deductions still valid for filers making under $110K
  • 10% tax credit up to $500 for energy improvements made to existing homes
  • Estate taxes: $5 mil for individual estates exempt, $10 mil for family estates exempt.  After that, rate will be 40%

To read more specifics on the cliff bill and what it may mean for you real estate-wise, read this wonderful post from Realtor.org;s blog: http://speakingofrealestate.blogs.realtor.org/2013/01/02/house-passes-senate-cliff-bill/

Caroline Choi Real Estate
Caroline Sells The City LA
www.CarolineSellsTheCity.com

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