The Internal Revenue Service has issued final rules on the 20 percent business income deduction (Sec. 199A of the Tax Code) that was enacted in late 2017 as part of the Tax Cuts and Jobs Act.

Among other things, the rules confirm that the deduction applies to your business income, as a real estate agent or broker, if you operate as a sole proprietor or owner of a partnership, S corporation, or limited liability company. It applies even if your income exceeds a threshold set in the law of $157,500 for single filers and $315,000 for joint filers.

In addition, the rules provide guidance that NAR has been seeking on two other provisions of importance to you: 1) whether any real estate rental income you have is eligible for the deduction, and 2) how the deduction applies to properties you’ve exchanged under Sec. 1031 of the tax code.

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Fairs and festivals always have a perfect “date-night” vibe to me. Maybe it’s the lights and the laughter … and the smell of fried goodies. Luckily, here in Central Florida, we have lots of options for a festive Valentine’s events. Here are a few ideas we love: Read more

The chance of a recession in Florida has doubled in the past year, but the state is “pretty safe” from recession in 2019, economists said Monday.

The chance of a recession is low in the next nine months, Jerry Parrish, chief economist for the Florida Chamber Foundation said at its annual economic outlook and jobs forecast in Orlando.

In an interview, University of Central Florida economist Sean Snaith said he agrees job growth is slowing but that Florida’s economy remains strong. Read more

Real estate agents warned that this year could be slower as well

Home sales plunged in the Orlando area in December as 2018 finished with fewer sales than the year before, and real estate agents warned that 2019 could be slower as well.

Year-end totals for 2018 show the total number of homes sold dropped 3.2 percent from 2017, while home prices finished 2018 up 5.7 percent compared with 2017.
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Monday Morning Quarterback Report

Every Monday, ORRA’s Monday Morning Quarterback Report gives you a snapshot of the previous week’s market activity, including sales, prices, days on market, and much, much more.
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We are excited to share that Houzz has acquired IvyMark, a startup that has built a business management tool and engaged community for interior designers and other home design companies. IvyMark was founded in 2016 with the mission to modernize the way interior design firms run their business, which aligns with our own mission of providing the best experience for home renovation and design – including how home professionals manage their business.

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In time for Mother’s Day, the latest “My Houzz” episode follows Olivia Munn as she surprises her mom with the ultimate Mother’s Day gift: a renovation of her home in Oklahoma City, Oklahoma. With fond memories of cooking with her mom when she was young, Munn wanted to transform the kitchen, living and dining room into an open, bright and functional space her mom would enjoy cooking and entertaining in.
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Sea World Orlando is the perfect choice for family fun! You will find that there’s something there for everyone, whether it’s the thrills of the roller coasters or the excitement and wonder of the animals! Listed here are my favorite animal experiences, shows and rides at SeaWorld that are perfect for family fun.

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Do you remember the 2017 solar eclipse? It was an amazing celestial show.

Speaking of amazing celestial shows, did you know that Florida now has a certified Dark Sky park?

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