Note: As a resident of the state with the highest tax burden in the United States and as the owner of a title insurance company reliant on a healthy environment for both the commercial and residential real estate markets, the subjects of affordability and quality of life in New York State are extremely important to me. […]
New York State, according to research at WealthManagement.com, is #1 among the 50 states in the tax burden on its residents! As the owner of a title insurance company I am obviously concerned with the health of the New York State real estate market. The levy of property taxes are always in focus, as are […]
The chart below describes the increases in the New York State Transfer Tax and Mansion Tax, that will affect transactions of specific type and size occurring after July 1, 2019… An exception to the July 1 deadline will be those contracts ‘entered into on or before April 1, 2019, “provided that the date of execution of such contract […]
By visiting the Tax Plan Calculator created by Maxim Lott, an individual or family living in any state can enter their various inputs and get an idea of how the newly passed tax bill will affect their bottom-line! If you’re like the average American, particularly in the high-tax states like New York, California and New Jersey, […]
In addition to many other issues, your choice of candidate in the 2016 presidential election will have an impact on your wealth! Specifically each of the candidates has their own opinion as it relates to the way in which federal income taxes should be collected and on which income brackets that the greatest tax burden should […]
Follow @Hallmark Abstract Service What could be more appropriate on April 15, Tax Day, than examining which segment of the populace contributes the greatest portion of federal tax revenues? As individuals and/or business owners who pay into the federal coffers, we often feel as if the entire tax burden is falling squarely on our shoulders […]
One of the critical pieces of any real estate investment, the mortgage interest deduction (MID), has always served as something of a bi-partisan political football! For those who may be unfamiliar the MID allows homeowners to deduct the interest paid on their mortgage from taxable income (subject of course to certain IRS rules) making it […]
If you have heard anything about the foreclosure crisis, you’ve heard about MERS! This video discusses some of the background of MERS, the Mortgage Electronic Registration System. With over one half of the nations mortgages “held” in its database, MERS is at the center of the controversy surrounding foreclosures. http://media.nbcnewyork.com/designvideo/embeddedPlayer.swf
