Over the next few years, the provisions of the Affordable Care Act, commonly known as Obamacare, will go into effect, as well as new tax measures to pay for the program. The tax of most concern to those selling real estate, is a 3.8% tax on investment income, which includes interest, dividends, rents as well as the capital gains from the sale of real estate. This tax goes into effect starting January 1, 2013.
To correct some of the misconceptions about the tax, the National Association of Realtors created the attached Q and A, which makes it clear that this tax is not a new real estate or transfer tax collected upon the sale of property. Instead the tax applies to capital gains (not the sales price) on the sale of real estate and other investment income, and it only applies to sellers with high incomes who meet a number of other criteria. After reviewing the attached information from the NAR, it is important that any seller contact their financial advisor to review all aspects of the law before making financial decisions. Below are two sites for you to review.
http://www.realtor.org/small_business_health_coverage.nsf/pages/health_ref_faq_med_tax?
opendocumenthttp://www.realtor.org/small_business_health_coverage.nsf/docfiles/government_affairs_invest_inc_tax_broch.pdf/$FILE/government_affairs_invest_inc_tax_broch.pdf
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Interested in the latest sales activity for the Lake Tahoe and Truckee area? We’ve just added a seperate page on the blog titled ‘North Lake Tahoe-Truckee Real Estate Stats’. This page will be your location for the latest sales information in a readable format.
Use this link below to go directly to it:
https://yourfriendinhighplaces.wordpress.com/north-lake-tahoe-truckee-real-estate-market-stats/
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Welcome to my updated blog! I hope the new format will make it easier for you to find pertinent information about North Lake Tahoe, ”The Magical West Shore’, Truckee, Donner Lake and Donner Summit. Visit the links to the left to explore the North Lake Tahoe area that USA Today voted the best lake in the country. You can also use the links to help you plan your trip. Come up for a visit, and when you fall in love with the area, I’ll be here to help you find your perfect new home or vacation hideaway.
The seasons are changing, and the glory of Fall at Lake Tahoe is one of the areas best kept secrets. Gone are the summer crowds, unaware of the spectacular show they are missing. With aspen groves dressed in their most brilliant hues of shimmering gold against the backdrop of crisp blue skies and a nip in the air, it’s the perfect time for a bike ride or stroll along the areas many bike trails.
Lake Tahoe and Truckee abound in bike trails, perfect for a ride or a leisurely stroll.
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Though it’s near the end of the spawning season, there is still time to visit Taylor Creek to see the Kokanee salmon and the stream profile chamber, where you can view a slice of the stream bed through the glass of the partially below ground facility. Wander through the grounds, but do keep a look out for bears fattening up for the winter on the abundance of fish along the creek’s shores.
Kokanee salmon spawning in Taylor Creek, CA
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Come up and see for yourself what locals have known about for years. The Splendor of Fall in the Mountains
And do plan for changing weather, as winter can make an unannounced and early appearance on a whim- only to be followed soon thereafter back to the lovely days of a typical Tahoe Indian Summer.
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The Truckee River, Truckee, CA
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