Taxes and Real Estate: What You Need to Know
2020-05-04 19:00 - 2020-10-31 19:00
$29

3 Total hours
3 Elective hours
0 Annual Commission Update hours

In Colorado, this course is also approved under Rule A-27(B)(3), which allows real estate licensees to use the course toward their pre-license requirements necessary to become an Employing Broker.

While it’s not your job to act as a tax advisor to clients and customers, having a strong understanding of property tax-related issues likely to come up during the transaction process helps you provide a better quality of service. And, thanks to the Tax Cuts and Jobs Act of 2017, the U.S. tax code recently underwent a number of significant changes relating to mortgage interest deductions, SALT caps, tax brackets, and more.

This three-hour course provides an overview of property-related tax issues to help consumers become better aware of the tax implications of buying, owning, and selling property.

Course highlights include:

-An overview of key changes resulting from the Tax Cuts and Jobs Act of 2017
- A look at general tax sources and taxable income
- An examination of the differences between a principal and secondary residence
- A review of how recent tax bracket changes can affect affordability
- A look at point and fee deductions, interest deductions, and refinancing deductions
- A review of some common tax deductions associated with owning a property, including property taxes, homeowner’s insurance, and mortgage insurance
- A discussion of the recent changes relating to SALT caps
- An overview of transfer taxes and recording fees
A look at capital gains and losses, property repairs and capital improvements, and capital gain taxation rates and rules
Interactive activities and scenarios to seal in the new information and frame it in everyday context
