{"id":4609,"date":"2017-05-17T00:00:00","date_gmt":"2017-05-17T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/the-word-from-d-c-tax-reform\/"},"modified":"2017-05-17T00:00:00","modified_gmt":"2017-05-17T00:00:00","slug":"the-word-from-d-c-tax-reform","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/the-word-from-d-c-tax-reform\/","title":{"rendered":"The Word From D.C.: Tax Reform"},"content":{"rendered":"

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Always Be Networking<\/strong>: Valuable connections abound at the Legislative Meetings & Trade Expo.<\/em><\/p>\n\t\t\t<\/td>\n\t\t<\/tr><\/tbody><\/table>

High Hurdle for\u00a0Tax Reform<\/h4>\n\n
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\u201cNo Republicans want to say they got nothing done.\u201d<\/em>
\u2014Fox News journalist Chris Wallace<\/p>\n\t\t\t<\/td>\n\t\t<\/tr><\/tbody><\/table>

Tax reform is a priority of President Donald\u00a0Trump and the Republican\u00a0Congress, but \u201cFox News Sunday\u201d host Chris Wallace said Wednesday\u00a0at the REALTORS\u00ae Legislative Meetings & Trade Expo that there’s little\u00a0chance of it getting passed this year. That’s because there are too many issues to work out before lawmakers turn their attention to midterm\u00a0elections. Health reform, on the other hand, is a likely bet because Republicans have an incentive to go into the elections with at least one major accomplishment behind them. Read more.<\/p>\n\n

Taxing Matters<\/h4>\n\n

The tax reform proposal being considered by federal lawmakers would sharply reduce the number of American households that can take advantage of the mortgage<\/a> interest deduction, boost taxes for middle-income homeowners, and cause home prices to fall, according to an analysis of the plan prepared for the National Association of REALTORS\u00ae by the consulting firm PwC. Under current law, homeowners cover 83 percent of the country’s personal income tax bill despite the $1.3 trillion in deductions they claim for mortgage interest and property taxes.<\/p>\n\n

Collect Taxes From Amazon, Not REALTORS\u00ae\u00a0<\/h4>\n\n

Brick-and-mortar businesses are frequently at a disadvantage compared to online retailers in states that don\u2019t collect sales tax for internet transactions. Commercial Legislation and Regulatory Advisory Board Chair Michael Schoonover encouraged his fellow\u00a0REALTORS\u00ae to incorporate calls to level the playing field between online commercial activity and Main Street. He called for these issues to be part of their advocacy on Capitol Hill this week. \u201cThose are jobs issues,\u201d he said. \u201cCongress loves to talk about jobs.\u201d As many states struggling with budget shortfalls seek ways to increase revenue, businesses and real estate<\/a> pros may find themselves targeted to help fill the gap.<\/p>\n\n

Global Policies Could Hurt Foreign Market<\/h4>\n\n

The future health of the international real estate market could be jeopardized as policies in the U.S. and other countries, such as the Brexit vote and President Donald Trump\u2019s proposed travel ban, shift toward an antiglobalist ideology. While the consequences for foreign investors have yet to be fully understood, for now, international buyers seem unfazed and continue to flock toward U.S. home purchases. But will it last?<\/p>\n\n

The Buck Stops With You\"\"<\/h4>\n\n

Money launderers are using shell companies to buy real estate as a way to harbor their illegal profits in the U.S. But the Treasury Department is cracking down on the practice with an information gathering program, working with title insurance<\/a> companies to target this activity in specific regions. Brokers and agents are also encouraged to look for money-laundering red flags. Learn how to spot suspicious transactions and how to report them.<\/p>\n\n

\u2014REALTOR\u00ae Magazine<\/em><\/p>\n<\/div>\n \n \n<\/pre>\n\n<\/div>\n\n\n
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 Realtors.org <\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"

[ad_1] Always Be Networking: Valuable connections abound at the Legislative Meetings & Trade Expo. High Hurdle … The Word From D.C.: Tax Reform<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4610,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[695,4751,518,480,1403,15239,15242,525,9697,12908,543,627,617,698,408,1007,41,818,84,2878,479,15296,1262,842],"class_list":["post-4609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-agent","tag-amazing","tag-america","tag-broker","tag-buy","tag-chase","tag-connections","tag-donald-trump","tag-foreign-investors","tag-home","tag-home-buying-guide","tag-homeowners","tag-house","tag-insurance","tag-mortgage","tag-owners","tag-property","tag-real","tag-real-estate","tag-real-estate-market","tag-realtor","tag-target","tag-taxes","tag-trump"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/dn_bigbizcard_480-2.jpg?fit=480%2C230&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1481,"url":"https:\/\/amazingproperty.com.ng\/blog\/trumps-congressional-address-what-matters-to-real-estate\/","url_meta":{"origin":4609,"position":0},"title":"Trump’s Congressional Address: What Matters to Real Estate","author":"Amazing Property","date":"March 1, 2017","format":false,"excerpt":"\u00a0 In his address to Congress on Tuesday night, President Donald Trump renewed his pledge to rebuild the country's infrastructure, replace the Affordable Care Act, and reform taxes for businesses and individuals\u2014all issues of importance to real estate. Infrastructure The National Association of REALTORS\u00ae sees investments in roads, bridges, dams,\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Trump's Congressional Address","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/feb17_EXP6117_AP_17060091731912.jpg?fit=830%2C390&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/feb17_EXP6117_AP_17060091731912.jpg?fit=830%2C390&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/feb17_EXP6117_AP_17060091731912.jpg?fit=830%2C390&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/feb17_EXP6117_AP_17060091731912.jpg?fit=830%2C390&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3865,"url":"https:\/\/amazingproperty.com.ng\/blog\/will-tax-changes-benefit-homeowners-and-investors\/","url_meta":{"origin":4609,"position":1},"title":"Will Tax Changes Benefit Homeowners and Investors?","author":"Amazing Property","date":"April 26, 2017","format":false,"excerpt":"As the White House shifts its focus to tax reform, analysts are examining who will benefit from the proposal announced Wednesday afternoon. The New York Times reported yesterday that this week\u2019s stock market surge could be attributed to President Donald Trump\u2019s call to cut the corporate tax rate to 15\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6239,"url":"https:\/\/amazingproperty.com.ng\/blog\/tax-reform-proposals-threaten-homeowners\/","url_meta":{"origin":4609,"position":2},"title":"Tax Reform Proposals Threaten Homeowners","author":"Amazing Property","date":"September 15, 2017","format":false,"excerpt":"REALTORS\u00ae took their concerns over tax reform proposals to Capitol Hill on Wednesday, with Iona Harrison, chair of the National Association of REALTORS\u00ae\u2019 Federal Taxation Committee, warning the Senate Finance Committee that they limit or nullify the tax incentives for homeownership. Harrison said the proposals would actually raise taxes on\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5522,"url":"https:\/\/amazingproperty.com.ng\/blog\/property-tax-is-an-untapped-goldmine-in-nigeria\/","url_meta":{"origin":4609,"position":3},"title":"\u2018Property tax is an untapped goldmine in Nigeria\u2019","author":"Amazing Property","date":"July 31, 2017","format":false,"excerpt":"PHOTO: Architecture Lab Professionals on tax matters and real estate sector have called for an overhaul of the policy that renders land administration system ineffective and costly over the years. They also want the Joint Tax Board to design a model property tax, which States could adopt as minimum benchmark\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/lagos.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/lagos.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/lagos.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/lagos.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/lagos.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":6900,"url":"https:\/\/amazingproperty.com.ng\/blog\/nar-vows-pushback-on-tax-reform\/","url_meta":{"origin":4609,"position":4},"title":"NAR Vows Pushback on Tax Reform","author":"Amazing Property","date":"November 3, 2017","format":false,"excerpt":"\u201cThe bottom line is removing tax incentives means fewer home buyers and lower home values,\u201d Iona Harrison, chair of NAR\u2019s Federal Taxation Committee, said of the House GOP tax plan at the REALTORS\u00ae Conference & Expo welcoming ceremony Thursday. Tax reform was the buzzword of the day as 20,000 attendees\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"11 3 17 Taxreform3.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/11_3_17_TaxReform3.jpg?fit=600%2C399&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/11_3_17_TaxReform3.jpg?fit=600%2C399&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/11_3_17_TaxReform3.jpg?fit=600%2C399&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6960,"url":"https:\/\/amazingproperty.com.ng\/blog\/nar-gops-tax-plan-attacks-homeownership\/","url_meta":{"origin":4609,"position":5},"title":"NAR: GOP\u2019s Tax Plan \u2018Attacks Homeownership\u2019","author":"Amazing Property","date":"November 6, 2017","format":false,"excerpt":"Republican strategist Steve Schmidt predicted during the REALTORS\u00ae Conference & Expo in Chicago on Saturday that Congress would not pass the GOP\u2019s tax proposal. Congressional Republicans are pushing the bill, he said, simply because they need a legislative victory. Read more. The recently released GOP tax reform plan would decrease\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"11 6 17 Steveschmidt.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/11_6_17_SteveSchmidt.jpg?fit=400%2C266&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/4609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=4609"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/4609\/revisions"}],"predecessor-version":[{"id":89910,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/4609\/revisions\/89910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/4610"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=4609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=4609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=4609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}