The purpose of this course is not to enable the real estate licensee to give tax advice to his or her customers. The purpose is to make licensees aware of parts of the tax code that affect real estate as it relates to customers.
Not being aware of some of the tax laws affecting real estate transactions can create liability. While licensees are to never give tax advice, ignorance is not always bliss. Acquiring an understanding of these laws can create a point of difference in the service provided to customers.
pon completion of this course, participants will be able to accomplish the following:
- Illustrate how marginal tax brackets are used.
- Calculate how real estate-related deductions affect taxes.
- Relate the impact of Foreign Investment in Real Property Tax Act (FIRPTA) requirements.
- Illustrate income tax ramifications of financing the purchase of a residential property.
Students will review concepts through exercises and examinations and the course is completed with a final exam.