Tag: taxes

House GOP Tax Plan Would Impact Key Housing Tax Provisions

Filed in Capitol Hill, Multifamily by on June 24, 2016 3 Comments
House GOP Tax Plan Would Impact Key Housing Tax Provisions

House Speaker Paul Ryan and Ways and Means Committee Chairman Kevin Brady today unveiled the tax policy plank of a six-part House GOP policy agenda that would overhaul the tax code and affect important housing tax provisions.

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Tax Extenders Package Includes Key NAHB Priorities

Tax Extenders Package Includes Key NAHB Priorities

Congressional leaders early this morning released a $650 billion tax package that permanently renews certain NAHB housing tax priorities while providing a two-year retroactive renewal for others through the end of tax year 2016.

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Reminder: Moving Expense Deduction for Home Buyers

Filed in Codes and Regulations, Housing Finance by on August 21, 2015 1 Comment
Reminder: Moving Expense Deduction for Home Buyers

A recent tax tip from the IRS reminds home buyers about the deduction for moving expenses, which offers opportunity for home owners to reduce their taxes. The IRS note explains how home owners may be eligible to deduct the cost of their move on their federal tax return next year.

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Property Taxes are Largest Chunk of State and Local Tax Receipts

Filed in Economics by on July 27, 2015 0 Comments
Property Taxes are Largest Chunk of State and Local Tax Receipts

Property taxes accounted for a whopping $500 billion in state and local tax receipts during the annual period covering the first quarter of 2014 through the end of the first quarter of 2015, according to NAHB tabulations of the Census Bureau’s quarterly data.

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Senate Panel Approves NAHB Priorities as Part of Tax Extenders Package

Filed in Capitol Hill, Home Building by on July 21, 2015 0 Comments
Senate Panel Approves NAHB Priorities as Part  of Tax Extenders Package

The Senate Finance Committee today voted 23-3 to renew scores of temporary tax provisions known as tax extenders that expired this year, including all those of interest to the housing community. In general, the provisions are granted a two-year retroactive renewal through the end of tax year 2016, dating back to the start of 2015.

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IRS Publishes Guide on New Tangible Property Regulations

Filed in Economics by on March 30, 2015 0 Comments
IRS Publishes Guide on New Tangible Property Regulations

As we move into the heart of the tax season, the IRS has recently announced new procedures for tangible property regulations that are pertinent for builders who own construction equipment as well as multifamily apartment owners.

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Making the Case for Housing Tax Incentives

Filed in Capitol Hill, Economics by on March 20, 2015 0 Comments
Making the Case for Housing Tax Incentives

While NAHB members across the nation last week were busy Bringing Housing Home™ during in-district meetings with their lawmakers, NAHB tax staff was on Capitol Hill fighting to protect homeownership tax incentives, including the mortgage interest deduction, in any future tax reform effort.

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Builders Helping Builders: Taking on Tax Season

Filed in Business Management by on February 15, 2015 0 Comments
Builders Helping Builders: Taking on Tax Season

Builders Helping Builders is an interactive blog post that allows members to tap into the vast knowledge and experience of the entire Federation in one convenient location.

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Completed Contract Method Eyed by Courts

Filed in Business Management, Land Development, Legal by on July 2, 2014 0 Comments
Completed Contract Method Eyed by Courts

Just because a development firm has completed the rough grading, roadways, sidewalks, utilities, storm water drainage, parks and lanscaping for a community, it cannot employ the completed contract method of accounting in computing gain and loss for the contracts for these sales if it didn’t sell the houses, the tax court has found.

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Help Your Buyers Understand the Tax Benefits of Homeownership

Filed in Homeownership, Sales & Marketing by on May 21, 2014 0 Comments

Sometimes, home builders need a simple explanation for their buyers about the financial benefits of homeownership when in comes time to pay taxes. Thanks to the fine staff in NAHB Economics, we have one for you to bookmark.

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