Monthly Archives: September 2012
I’m sure you’ve gotten the chain e-mails, read the websites, or had your clients, friends, or family ask you about the 3.8% tax under the “Obamacare” plan. Needless to say, I’ve had many of our agents forward them to me from their clients asking if I “knew about this”. Every time, I simply forward the truth from NAR’s website. These chain e-mails have ridiculous examples like “if you sell a $100,000 home after Jan. 1, 2013, you will have to pay $3,800 in tax”. This couldn’t be further from the truth! I’m a devout Republican, so putting politics aside, these emails are complete fear tactics created to detract from the Obama Administration and Obama’s Health Care initiative. They’re not true and end up getting believed by people who don’t know how to use Google to verify facts before panicking. Now, don’t get me wrong, I don’t like the tax, I don’t agree with it, but it’s not AS bad as it’s being made out to be and I simply don’t want us to get caught up in spreading incorrect information received in chain e-mails.
Of course as Realtors, we can NEVER give out TAX advice, and should always refer TAX questions to the appropriate professionals, but we can simply forward the correct information as published by a reliable 3rd party.
Below I have attached a link to download the National Association of Realtors PDF booklet that very clearly and simply explains the new law. It has simple scenarios as well as examples to make it easy to understand who this tax would apply to.