This video explains the Tax Laws that were changed in the recent Tax Reform of 2017 and how they will impact the Real Estate Market. There has been a lot of confusion on what was purposed and what was actually implemented. Hope this is useful to you. I look forward to your feedback!
Quick Overview Two main provisions in the Tax code that have an impact:
MID- Mortgage Interest Deductions Under the new law you can now deduct Mortgage Interest on loan amount of $750,000. The old law was up to $1 M.
SALT- State and Local Tax Under the new law you can deduct Property tax up to $10,000. So if you have two properties that $5k of tax on each, you are in the clear!
