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Just Listed: 1362 Angelica Ct

January 11, 2018 |  Article By : 

Just Listed: 1362 Angelica Ct

 


1362 Angelica Ct
Shakopee MN

4 Bedrooms │ 2 Bathrooms

$264,900

Great starter home on cul de sac location with large flat yard (.38 lot) ideal for kids and pets! Newer siding and roof! Only relocation makes this property available. Kitchen has center island, corner pantry and stainless steel appliances! Shed in back for extra storage. Walk out lower level. SIRVA documents required with offer.

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Legal Update: NEW TAX CUTS & JOBS ACT SUMMARY

January 9, 2018 |  Article By : 

The Act contains a lot of information and certainly cannot be summed up in one short article, but there are some provisions that are worth noting. You should consult with your tax advisor about things you may need to change/adjust in 2018 and the potential impact on both your personal and business finances.

 

  • Standard deduction increased to $12,000 for single filers and $24,000 for joint returns
  • $1,000-per-child credit will double to $2,000, with up to $14,000 available in IRS refunds for families who owe little or no taxes.
  • $10,000 cap on the deduction for state and local income tax for both single and married filers.
  • Mortgage interest deduction limited to loans up to $750,000 (down from $1 million).  Current loans are grandfathered in so the new limit only applies to new loans taken out after 12/14/17.  Can still refinance mortgage debts existing on 12/14/17 up to $1 million and still deduct the interest so long as the new loan does not exceed the amount being refinanced.
  • Interest remains deductible on second homes but subject to the same limits discussed above so interest is deductible on the first $750,000 of aggregate debt on both homes
  • Deduction eliminated for interest on a second mortgage securing a HELOC however interest is still deductible on home equity loans or second mortgages if the proceeds are used to substantially improve the residence.
  • Lowers top tax rate from 39.6 to 37 percent for individuals
  • Corporate tax rate will be reduced to a flat 21 percent
  • 20% deduction of pass-through business income (subject to some limitation) however there are some new restrictions on deductions for businesses
  • Exclusion of gain on sale of principal residence remains unchanged.
  • 1031 exchange for real property was retained
  • Estate tax threshold increased to $11 million per individual
  • Alternative minimum tax (AMT) exemptions and thresholds increased
 

Just Listed: 8718 Aldrich Ave

January 2, 2018 |  Article By : 

Just Listed: 8718 Aldrich Ave

 


8718 Aldrich Ave
Bloomington MN

3 Bedrooms │ 2 Bathrooms

$175,000

Exceptional one level living manor home with 3 bedrooms, 2 bathrooms, a wood burning fireplace, eat-in and formal dining, kitchen with new upgraded countertops and backsplash, and attached one car garage. Reasonable association dues. Self-managed small association (8 units), located in perfect location close to shopping, airport, and major roads.

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Just Listed: 1764 Margaret St

January 2, 2018 |  Article By : 

Just Listed: 1764 Margaret St

 


1764 Margaret St
St. Paul MN

3 Bedrooms │ 2 Bathrooms

$179,900

Perfect starter home with just the right upgrades in just the right spaces. Updated kitchen (2012) with granite countertops and stainless steel appliances. Updated bathrooms. Home has central air; detached 2-car garage; deck; 3 bedrooms (large on upper floor and 2 on the main floor); and an abundant amount of storage space on the lower level. Must see to appreciate.

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