760-814-1850
    info@1850realty.com

1850 Realty ®1850 Realty ®

We Help You Buy and Sell in North County San Diego

  • Communities
    • Cardiff
    • Carlsbad
    • Del Mar
    • Encinitas
    • Escondido
    • Fallbrook
    • Oceanside
    • Poway
    • Home
    • Ramona
    • Rancho Bernardo
    • Rancho Santa Fe
    • San Marcos
    • Solana Beach
    • Valley Center
    • Vista
  • Blog
  • Why 1850?
  • Join us!

Tax Cuts and Jobs Act – What it Means for Homeowners

From C.A.R.:

President Signs Tax Reform Bill
Last week, President Trump signed the Tax Cuts and Jobs Act tax reform bill. All individual provisions of the measure are generally effective after December 31, 2017 for the 2018 tax filing year and expire on December 31, 2025 unless otherwise noted. The provisions do not affect tax filings for 2017 unless noted.

Under this bill:

Mortgage Interest Deduction

  • The final bill reduces the limit on deductible mortgage debt to $750,000 for new loans taken out after 12/14/17. Current loans of up to $1 million are grandfathered and are not subject to the new $750,000 cap. Neither limit is indexed for inflation.
  • Homeowners may refinance mortgage debts existing on 12/14/17 up to $1 million and still deduct the interest, so long as the new loan does not exceed the amount of the mortgage being refinanced.
  • The final bill repeals the deduction for interest paid on home equity debt through 12/31/25. Interest is still deductible on home equity loans (or second mortgages) if the proceeds are used to substantially improve the residence.
  • Interest remains deductible on second homes, but subject to the $1 million / $750,000 limits.

Deduction for State and Local Taxes

  • The final bill allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes. This $10,000 limit applies for both single and married filers and is not indexed for inflation.
  • The final bill also specifically precludes the deduction of 2018 state and local income taxes prepaid in 2017.

For more info: https://www.nar.realtor/taxes/tax-reform/the-tax-cuts-and-jobs-act-what-it-means-for-homeowners-and-real-estate-professionals#!#Examples%20of%20How%20The%20New%20Law%20Will%20Affect%20the%20Tax%20Incentives%20of%20Owning%20a%20Home

Posted in: Blog

Post navigation

« Complete list of Open Houses this Weekend 12/30/2017 & 12/31/2017 in North County
Lesson(s) learned, my 2017 »

Favorites

House Hacks
Open Houses
Things to Do
How to Buy
How to Sell
*Photo Removal*

Home Valuation Tool

Search Homes by City:

  • Cardiff
  • Carlsbad
  • Del Mar
  • Encinitas
  • Escondido
  • Fallbrook
  • Oceanside
  • Poway
  • Ramona
  • Rancho Bernardo
  • Rancho Santa Fe
  • San Marcos
  • Solana Beach
  • Valley Center
  • Vista

I Want More Info:

* indicates required field






365 Things to do in North County San Diego updated their cover photo.

3 weeks ago

365 Things to do in North County San Diego

Hello April! Looking for things to do in North County San Diego?
Get the scoop on our blog at: 1850realty.com/things-to-do-in-north-county-san-diego-in-april-2018/
...

Hello April! Looking for things to do in North County San Diego? 
Get the scoop on our blog at: http://1850realty.com/things-to-do-in-north-county-san-diego-in-april-2018/
View on Facebook
·Share

Share on FacebookShare on TwitterShare on Google PlusShare on Linked InShare by Email

  • Likes: 1
  • Shares: 0
  • Comments: 0

 

Comment on Facebook

365 Things to do in North County San Diego

3 weeks ago

365 Things to do in North County San Diego

Hello April! Don't be fooled. We have a full list of exciting festivals, hikes, and new places to go! Enjoy some delicious avocado's at the Fallbrook Avocado Festival. Get outdoors & enjoy our beautiful city with a hike at Calaveras Hills or Torrey Pines. Head out on Friday night with the family at Cruisin’ Grand in Escondido for people watching, hot rods & good times. Spring is in the air & there’s plenty to enjoy this month!
1850realty.com/things-to-do-in-north-county-san-diego-in-april-2018/
...

Hello April! Dont be fooled. We have a full list of exciting festivals, hikes, and new places to go! Enjoy some delicious avocados at the Fallbrook Avocado Festival. Get outdoors & enjoy our beautiful city with a hike at Calaveras Hills or Torrey Pines. Head out on Friday night with the family at Cruisin’ Grand in Escondido for people watching, hot rods & good times. Spring is in the air & there’s plenty to enjoy this month!
http://1850realty.com/things-to-do-in-north-county-san-diego-in-april-2018/
View on Facebook
·Share

Share on FacebookShare on TwitterShare on Google PlusShare on Linked InShare by Email

  • Likes: 5
  • Shares: 1
  • Comments: 0

 

Comment on Facebook

365 Things to do in North County San Diego

1 month ago

365 Things to do in North County San Diego

Day trip to Ramona Valley Wine Country - Did you know that Ramona has received it’s own designation as a wine region? The Ramona Valley AVA is growing in popularity with over 24 vineyards to visit. Take a Sunday drive out on East Hwy 78 towards San Pasqual Valley, plan a day of touring a couple vineyard tasting rooms while soaking in the valley views. Most tasting rooms are open on the weekend while others require an appointment. Check out all the details at: www.ramonavalleyvineyards.com/ ...

Day trip to Ramona Valley Wine Country - Did you know that Ramona has received it’s own designation as a wine region? The Ramona Valley AVA is growing in popularity with over 24 vineyards to visit. Take a Sunday drive out on East Hwy 78 towards San Pasqual Valley, plan a day of touring a couple vineyard tasting rooms while soaking in the valley views. Most tasting rooms are open on the weekend while others require an appointment. Check out all the details at: http://www.ramonavalleyvineyards.com/
View on Facebook
·Share

Share on FacebookShare on TwitterShare on Google PlusShare on Linked InShare by Email

  • Likes: 4
  • Shares: 1
  • Comments: 0

 

Comment on Facebook

365 Things to do in North County San Diego

1 month ago

365 Things to do in North County San Diego

Hello March! This month brings all sorts of change. We spring forward and celebrate a new season. There’s all sorts of things for you to do with friends & family. Like photo opportunities at the Carlsbad Flower Fields or spending a day in Ramona Valley wine tasting. The Spring happenings are abound. Check out our extensive list of things to do. Enjoy! 1850realty.com/things-to-do-in-north-county-march-2018/ ...

Hello March! This month brings all sorts of change. We spring forward and celebrate a new season. There’s all sorts of things for you to do with friends & family. Like photo opportunities at the Carlsbad Flower Fields or spending a day in Ramona Valley wine tasting. The Spring happenings are abound. Check out our extensive list of things to do. Enjoy! http://1850realty.com/things-to-do-in-north-county-march-2018/
View on Facebook
·Share

Share on FacebookShare on TwitterShare on Google PlusShare on Linked InShare by Email

  • Likes: 5
  • Shares: 1
  • Comments: 0

 

Comment on Facebook

365 Things to do in North County San Diego

1 month ago

365 Things to do in North County San Diego

Hello March! This month brings all sorts of change. We spring forward and celebrate a new season. There’s all sorts of things for you to do with friends & family. Like photo opportunities at the Carlsbad Flower Fields or spending a day in Ramona Valley wine tasting. The Spring happenings are abound. Check out our extensive list of things to do. Enjoy! 1850realty.com/things-to-do-in-north-county-march-2018/ ...

Hello March! This month brings all sorts of change. We spring forward and celebrate a new season. There’s all sorts of things for you to do with friends & family. Like photo opportunities at the Carlsbad Flower Fields or spending a day in Ramona Valley wine tasting. The Spring happenings are abound. Check out our extensive list of things to do. Enjoy! http://1850realty.com/things-to-do-in-north-county-march-2018/
View on Facebook
·Share

Share on FacebookShare on TwitterShare on Google PlusShare on Linked InShare by Email

  • Likes: 1
  • Shares: 0
  • Comments: 0

 

Comment on Facebook

Load more
760-814-1850
info@1850realty.com

904 West San Marcos Blvd #4, San Marcos CA 92078

1850 Realty ®
California BRE #01946868
© 2018
Disclaimer