The IRS agrees with NAR that real estate brokerages shouldn’t be subject to a restriction on the 20 percent business income deduction enacted last year as part of the tax reform law that applies to other types of brokerages. Also covered in this video: financial wellness, housing sustainability, home price trends, and ideas from fast-growing brokerages on how to give consumers what they want.
As the Founder of Keeping Current Matters, Steve Harney has his finger on the pulse of all residential real estate issues, and he joins Tom to break down how tax reform will impact you.
In this episode you will learn:
How does the new 20 percent federal tax deduction work if you’re an independent contractor? How do other provisions in the new tax law impact your tax position as a real estate pro?