Witthaya Prasongsin | Moment | Getty Images Despite a slump in U.S. home sales, many homeowners made a profit selling property in 2023. Those gains could trigger a tax bill this season,... Read more »
With property tax bills as high as they are in Southern California, you’d think that homeowners would sign up for every break they could get. You would be wrong. Since 1974, the... Read more »
The U.S. House of Representatives this week passed a bipartisan tax bill that included an expansion of the Low-Income Housing Tax Credit (LIHTC) program, a move lauded by housing advocates including the... Read more »
When UCLA bought a former mall in West L.A., its seller paid nothing under the city’s “mansion tax.” But when the head of Arizona’s public universities bought a building Downtown, its seller... Read more »
Just ahead of a deadline to avert a partial U.S. government shutdown, lawmakers in the U.S. House of Representatives and the U.S. Senate unveiled the “Tax Relief for American Families and Workers... Read more »
An L.A. County judge dismissed a lawsuit challenging L.A.’s “mansion tax” on Tuesday, marking the end of a months-long legal challenge from the luxury real estate community that looked to declare the... Read more »
In the latest season of the reality TV show “Selling Sunset,” a surprising antagonist emerged: Measure ULA, the “mansion tax” aimed at alleviating L.A.’s housing shortfall. Despite projections of raising $923 million... Read more »
To maximize wealth transfers and avoid imminent tax exemption cuts, high-net-worth individuals are migrating accordingly. Image credit: Sotheby’s Real estate firm Sotheby’s International Realty is projecting a series of changes across global markets. According to the company’s fourth annual 2024 Luxury Outlook report,... Read more »
Voters are set to decide whether to increase the tax paid on real estate sales above $1 million. Landlords and business groups say referendum violates the state constitution. The verdict is in... Read more »
If you own a home in the United States, you may be eligible to deduct your property taxes from your federal income tax return. However, the Tax Cuts and Jobs Act of... Read more »