When Doing Your Taxes

Retroactively extends for the 2017 tax year:

Mortgage Debt Forgiveness
This provision will prevent homeowners who were forced to sell their home through a short-sale last year, or who faced a foreclosure, from being taxed on the “phantom income” they received when a lender canceled their debt.

Deduction for Mortgage Insurance Premiums
This provision will allow approximately four million homeowners to deduct the mortgage insurance premiums they paid as part of their mortgage. NAR estimates that roughly two million homebuyers annually purchase a home that is subject to mortgage insurance. This provision helps make homeownership more affordable for the first time and entry-level homeowners.

Energy efficient commercial buildings deduction
This provision extends the deduction for the cost, up to $1.80 per square foot, of energy-efficient commercial building property. Increasing the energy efficiency of commercial buildings not only helps the environment, it saves building owners and tenants money that they can use to grow their businesses and the economy. Continue Reading …

Asked 1,000 real estate agents to rate the top three mistakes made by home sellers.

“overpriced home.”
“cluttered space.”
“Showing availability.”

The other results include, 21% “unwilling to negotiate,” 20% “Won’t make repairs,” and 28% said, “unpleasant odors,” presumably pet odors. In other words, according to the 1,000 real estate agents asked, “It’s all your fault,” you—being the home seller. The client.
My question is if agents know these are the mistakes that home sellers make, why do they not step in and instruct clients of ways to avoid these mistakes? And second, if they refuse, why does the agent accept that homeowner as a client? I mean, isn’t that the whole purpose of retaining a real estate agent, in the first place, to make use of his experience and expertise? Why would any agent work with someone who ignores their best advice?

I was watching an episode of Botched the other day on the E! Network, a TV series about two plastic surgeons, Dr. Terry Dubrow and Dr. Paul Nassif, that fix the cosmetic surgery blunders of other plastic surgeons.
To start, each new prospective patient undergoes a rigorous consultation. This is where the investigative work is done. After the consultation, if the two surgeons don’t agree that they can help the patient, or…if they get the impression that the patient isn’t going to follow their strict instructions when it comes to recovery and post-op procedures, they refuse acceptance of that patient as a client.
Here is something I have learned about those at the top of their respective field. The true professional values his reputation more than anything else—even money or fame, or any kind of award or peer recognition.   If the Botched plastic surgeons accepted a patient, as a client, that they knew was going to be worse off, because they couldn’t help them, or end up with a horrible result, because they refused to follow post-op instructions—ultimately, who does it reflect poorly on? The doctor or the patient? Of course, it tarnishes the reputation of the cosmetic surgeon. After all, he is the Authority and supposed voice of reason.  And when asked, “Who did your surgery?” The patient is going to say what? “Dr. Terry Dubrow and Dr. Paul Nassif.” You got it. That’s exactly what they’re going to say.
Continue Reading …