2013 Tax Changes Affecting Real Estate

There are some new changes for Real Estate Professionals in 2013

  • Simplified home office deduction
  • Increased mileage deduction
  • New bracket for higher-income households
  • 3.8 percent net investment tax kicks in
  • 0.9 percent Medicare tax
  • Individual mandate penalty
NAR releases videos to look at 2013 tax changes affecting REALTORS®
Learn about the new home office safe harbor and a higher per-mileage deduction that can help lower your 2013 tax bill in two videos released this week. Also, learn about changes that impact higher-income households, including the new 39.6 percent tax bracket, higher long-term capital gains and dividend taxes, and the 3.8 percent net investment income tax that goes into effect. The videos feature NAR’s tax analyst Evan Liddiard, who sits down with tax advisor Peter Baker to talk about these and other tax changes important to real estate practitioners.