Thursday, July 26, 2012

The 3.8% Tax Is Not a Real Estate Transfer Tax

As I talk with potential home sellers as well as many real estate agents, questions of the new 3.8% tax to help shore up medicare, etc. comes up. Unfortunately, there is a lot of misinformation going around, some is based on political agenda, but mostly, people are just confused.

Here is a link from the National Association of Realtors explaining that the 3.8% tax is not a real estate transfer tax. It's worth taking a minute to read and understand. There is also a video you can watch: The 3.8% Tax Is Not a Real Estate Transfer Tax

Of course, this information is in no way meant to provide tax advice for individuals. Be sure to always check with your tax advisor for information that is specific to you.

I hope this information is helpful. Please feel free to contact me anytime with your questions about real estate.
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