I found an article you might have interest in reading concerning tax changes for 2014 and what the effect these changes may have on Palos Verdes homes. Original content for this article is found here: http://www.homeispalosverdes.com/tax-changes-2014-might-effect-palos-verdes-homes/
- Mortgage insurance premiums deduction
- Discharge of indebtedness on principal residence exclusion – See more at: http://www.inman.com/2013/12/03/tax-breaks-real-estate-pros-and-their-clients-should-be-prepared-to-do-without-in-2014/#sthash.MFjyUCQS.dpuf
- Tax credit for qualified energy efficiency improvements to principal residence – See more at: http://www.inman.com/2013/12/03/tax-breaks-real-estate-pros-and-their-clients-should-be-prepared-to-do-without-in-2014/#sthash.MFjyUCQS.dpuf
- Section 179 expensing deduction
- Bonus depreciation
- Energy-efficient commercial buildings deduction
- Credit for construction of new energy-efficient homes – See more at: http://www.inman.com/2013/12/03/tax-breaks-real-estate-pros-and-their-clients-should-be-prepared-to-do-without-in-2014/#sthash.MFjyUCQS.dpuf
- Obamacare tax on sale of home which isn’t new for 2014 but is worth noting as it could be very, very expensive
Tax Consequences for Palos Verdes Homes
To read the complete article, please visit this site: http://www.inman.com/2013/12/03/tax-breaks-real-estate-pros-and-their-clients-should-be-prepared-to-do-without-in-2014/
And of course before making any decisions, do consult a tax professional.
Meanwhile, please feel welcome to visit this site for more articles on Palos Verdes homes and the real estate market for Palos Verdes and the South Bay. And if you would like to use the proprietary map based Palos Verdes Homes search map (includes the ability to find closed sales), click the map below
