Annie Meadows · Raleigh REALTOR® at Hudson Residential

Raleigh Real Estate Agent with Hudson Residential

Four Real Estate Tax Deductions to Take Before They Are Gone for Good 

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The US Tax Code got an overhaul, so what does that mean for you for your 2017 taxes? It means it is your last chance to take advantage of the following tax deductions from the old code.

Tax Deductions

  1. Home Office – Do you work from home sometimes? Then pay close attention! If you are full-time self-employed this deduction will continue in 2018, however, if you only use your home office on the occasional Friday, you will no longer be able to take advantage of this deduction.
  2. Unlimited property tax – Homeowners, there will now be a cap on deduction property taxes. The maximum you can deduct is $10,000 a year from your state/local income taxes, property tax, and sales tax, anything exceeding that amount is no longer deductible in 2018.
  3. Moving expenses – 2017 is the last year you can deduct moving expenses, the only exception going forward will be members of the armed forces.
  4. Interest on a home equity loan for non-home improvement purposes – In the past you could use a home equity loan, or money you borrow using your home as collateral, for anything you wanted. Now you will only be able to use this money for one purpose: to buy, build, or improve your home.

For more information about these tax deductions, visit Realtor.com.

Now that you have done your taxes, how about a cocktail?

My Favorite Watering Holes

Visit Raleigh just released their list of the 14 Best Cocktail Bars in Raleigh but I have picked out my favorite six. View their full list here and check out my picks below:

  1. Dram & Draught (Pictured Above) – Perfect for whiskey fanatics and craft beer fans. Massive garage doors open to the outside on days with beautiful weather which is often here in the south!
  2. Watts & Ward – Craft Cocktail bar from Ireland native and Hibernian Hospitality owner Niall Hanley is 6,000 square feet of 1920s American underground spirit.
  3. Foundation – Peek down a set of stairs off Fayetteville St and catch a glimpse of a red neon sign lit up that reads “Foundation” you know you are in the right spot!
  4. Parliament – A cozy spot for people watching and sipping cocktails on Glenwood South.
  5. Fox Liquor Bar – Ashely Christensen, need I say more? 🙂
  6. The Green Light – The definition of hidden, literally tucked away behind a secret bookshelf inside The Architect Bar & Social House. How cool is that?