No one is talking yet about the pending tax cuts that are about to expire and return to their original high rates, in the MIDDLE OF A MAJOR DEPRESSION! Mr. Obama has signaled Capitol Hill that he will not move to extend these Bush-era tax cuts, which include the Inheritance Tax, the upper bracket of personal income tax, long-term capital gains tax and the elimination of the double tax on dividends. The government must make tough decisions to balance the budget, but allowing taxes to increase at all should not be one of them. Needless to say, an increase from 15% to 20% on long-term capital gains can only have a drastically negative impact on the recovery of the real estate market, starting sometime soon as home Sellers realize that escrows closing after December 31st will have a much different tax liability than those closing before.
About Lynn and Mark Rogo
Respected throughout the brokerage community for their honesty, integrity & strong work ethic, Mark & Lynn Mirisch Rogo are proud to offer the highest caliber of personal service that delivers results. Mark brings to his career extensive knowledge & experience in finance, business management & real estate investments that give him a definite edge in today’s competitive marketplace. As a lifelong resident of Beverly Hills & Westwood, Lynn has widespread knowledge of the marketplace, giving her a definite edge in helping buyers & sellers achieve their goals.