First Quarter Reflections…

by locationfinder on May 1, 2014

Northern New Jersey real estate has been moving!  Ringwood, Wanaque, West Milford, Franklin Lakes, Bergenfield, Midland Park, Old Tappan — just to name a few places where things are heating up… I’ve had little time to blog, but as I reflect on the last quarter, I am surprised that there has been very little discussed about the new 3.8% tax on investment income.  Since this tax affects real estate transactions, I feel that more people should know about it!


According to the National Association of Realtors,  This new tax was passed by Congress in 2010 with the intent of generating an estimated $210 billion to help fund President Barack Obama’s health care and Medicare overhaul plans.  Although it will not be imposed on all real estate transactions, it may impose a 3.8% tax on some (but not all) income from interest, dividends, 

rents (less expenses) and capital gains (less capital losses). The tax will fall only on individuals with an adjusted gross income (AGI) above $200,000 and couples filing a joint return with more than $250,000 AGI.


If you have rental properties or if you have recently inherited a property, you will want to read about the new tax. For your convenience, you may read about it here.  

As always, if you know of anyone interested in buying, selling, or renting, and they want to feel confident about their transaction, please keep Michael Kaplan with Coldwell Banker in mind! Thank you in advance! 


Previous post:

Next post: