The Proposed Tax Reform Plan and Miami Real Estate
December 1, 2017
How will the Proposed Tax Reform Plan Impact the Miami Real Estate Market? You might have heard people talk about Trump's latest tax reform plan and how it might affect real estate. Here is what the plan encompasses: Eliminating or cutting in half the mortgage interest deduction. This means capping the interest expense deduction for residential mortgages at $750,000 rather than the current $1 million. Limiting the deductibility of property taxes to the first $10,000 paid. Interest remains deductible on second homes, but subject to [...]