To the majority of us, understanding taxes is like attempting to read something written in a foreign language; it’s confusing and oftentimes stressful. So it comes as no surprise that you’ll hear many people, including your realtor, say “consult your tax adviser” when it comes to any questions pertaining to real estate taxes. It’s important to note that the arrival of 2015 brought several tax changes with it, making it more important than ever to consult your tax adviser. This is because these changes could truly impact your next real estate transaction. Here are just a few of the new tax changes you should be aware of before completing your next real estate transaction in 2015:
While it seems Missouri has been spared in 2015 with regards to tax changes, it’s important to note that there are several bills on the table that are up for consideration this year. Check with your tax advisor for more information regarding these bills.
Home ownership, both as a primary residence and as an investment, continues to be an effective means to minimize tax obligations and to build wealth. Call me to talk about how you can better take advantage of this benefit for all of your real estate needs!