For months, some affluent New Yorkers warned they would leave if progressive policies took hold at City Hall. With Zohran Mamdani now mayor and debate intensifying over a possible city wealth tax or property tax increase, early market data shows no sign of a luxury exodus. Instead, Manhattan’s top tier appears to be accelerating. HousingWire […]
Manhattan luxury market stable under Mamdani Read More »
The federal tax bill passed in mid-2025 includes a provision marketed as “no tax on Social Security,” but it does not eliminate taxes on benefits. Instead, the One Big Beautiful Bill Act expands deductions for older Americans, potentially reducing federal taxes for many retirees, a finance leader recently explained. A blog post by Luke Delorme
New deduction may lower seniors’ Social Security tax burden Read More »
Rep. Craig Goldman (R-Texas) introduced legislation this week, dubbed the Don’t Tax the American Dream Act, that would eliminate federal capital gains taxes on the sale of primary residences. “Americans are overtaxed. The Don’t Tax the American Dream Act repeals costly capital gains taxes on home sales so that Americans keep more of their hard-earned
New bill seeks elimination of capital gains tax on home sales Read More »
Congress has passed a bill giving taxpayers who have been affected by natural disasters some extra time to file a claim for a tax credit or refund. Processing Content The bipartisan bill, known as H.R. 1491, the Disaster Related Extension of Deadlines Act, was sponsored by Rep. Gregory Murphy, R-North Carolina, and Jimmy Panetta, D-California,
Congress passes law to extend tax deadlines after disasters Read More »
Benjamin Franklin famously said that nothing in life is certain except death and taxes. When I saw a recent article by Robert Bork Jr. claiming that the affordability crisis is due to some sort of “Realtor® tax,” I stopped in my tracks. The only Realtor® tax I’m aware of is the 15% self-employment tax I’m
There’s no such thing as a Realtor tax: Here’s what they’re missing Read More »
Homeowners in New York and Washington, D.C., stand to gain the most from the recently expanded federal cap on state and local tax (SALT) deductions — with typical households in these locations saving more than $7,000 a year, according to a Redfin report released Thursday. The change — part of President Donald Trump’s One Big
New York and DC homeowners set for biggest savings from SALT cap hike Read More »
Los Angeles will make $387 million available for affordable housing projects — reportedly the largest single funding round in the city housing department history. Applications for the funds opened Sept. 5 and close Oct. 20. Eligible applicants include nonprofit and for-profit developers, community land trusts, limited equity housing cooperatives, public entities and other organizations, the
Los Angeles ‘mansion tax’ fuels record affordable housing funding Read More »
A new report suggests that counting the value of employer-sponsored health insurance (ESI) toward taxable wages could generate about $400 more in annual payroll taxes per worker, shrinking Social Security’s long-term funding gap by roughly 25% in 75 years. The report published Tuesday by the Center for Retirement Research at Boston College concludes that the
Taxing health care benefits could reduce the Social Security gap by 25% Read More »
The American dream of homeownership has been a way to build wealth for decades as people pay down their debt while their homes appreciate in value. The result is a nice home equity nest egg — especially for seniors who have owned homes for many years. But an outdated tax law could claw back much of
Outdated tax law could cost senior homeowners looking to sell Read More »
The recently passed One Big Beautiful Bill Act (OBBBA) gave Americans a huge tax cut that critics say primarily benefits the wealthy. But the law contains a rare reversal from President Donald Trump on a key issue — the state and local tax (SALT) deduction. What the deduction does is all in the name. It
Where — and for whom — Trump’s higher SALT deduction cap has the most impact Read More »