NWAOR COVID-19 Update

Tiffany bigelow Advice, Update

NWAOR is committed to do its part to promote the health and welfare of its members and staff, all while continuing to provide the best service to our members.  Due to the recent recommendations regarding COVID-19, NWAOR is implementing the following measures effective immediately. Office Hours NWAOR will limit the hours in office to Monday through Thursday from 9:00am until 2:00pm.  Staff will be ready to help with membership, Supra, supplies and fingerprinting.  Fingerprinting will be limited to those whose license expires 3/31/20.  CE Classes, Committee Meetings and Events Cancelled In an effort to comply with Governor Herbert’s request to limit group gatherings and encourage social distancing, and in an effort to do our part to slow the spread of …

Coronavirus: A Guide for REALTORS®

Northern Wasatch Association of Realtors Advice, Update

Why is NAR issuing this guidance? In response to the growing concerns about COVID-19, commonly referred to as coronavirus, NAR is providing this guidance to help REALTORS® respond to the coronavirus’s potential impact on the real estate industry. As of March 4, 2020, the U.S. Centers for Disease Control and Prevention (CDC) has issued Level 3 Travel Warnings for all of China, South Korea, Italy, and Iran, and a Level 2 Travel Warning for Japan. However, the situation is rapidly evolving.  Be sure to refer to the CDC’s website for up-to-date information about travel warnings (link is external), as well as information about the coronavirus’ current impact in the United States (link is external). Daily updates about the coronavirus are also available …

How does tax reform affect real estate tax incentives?

Northern Wasatch Association of Realtors Advice, Update

April 15 is just around the corner, but this year’s Tax Day is different compared to many others. That’s because this is the first time taxpayers will file their taxes using the new rules from Congress’ tax overhaul. The Tax Cuts and Jobs Act of 2017 reformed many parts of the U.S. tax code, including several areas related to real estate. Here’s a summary of how the tax law affects many popular real estate tax provisions: Standard interest deduction     Congress essentially doubled the standard deduction from $6,350 to $12,000 for single filers and from $12,700 to $24,000 for those filing jointly. While that’s good news for some taxpayers, it does mean fewer people will itemize their returns, thus being …