2013 tax changes could affect your bottom line

A number of tax-law changes could make 2013 a challenging year for commercial REALTORS® and others who are in upper-income tax brackets.

“These are probably the most significant tax law changes in my career,” said Chris Bird, a former IRS agent turned trainer who conducts more than 125 seminars a year for real estate and tax professionals nationwide.

Two federal mandates have created this new business environment: The American Tax Relief Act of 2012 and The Affordable Care Act of 2010 otherwise known as the federal health care bill. “Fiscal Cliff” negotiations have also added uncertainty and relief to the mix.

Learn about some tax breaks that have been extended through the end of 2013 as well as tax changes that could reduce the profit margin for commercial practitioners or upper-income earners in the April issue of Illinois REALTOR® magazine.

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About Kara Kienzler

Kara Kienzler is Webmaster/Communications Coordinator for the Illinois Association of REALTORS® (IAR). She serves as Webmaster for the IAR websites including www.illinoisrealtor.org and www.yourillinoishome.com. She is responsible for the design, layout, printing and online strategy of IAR publications including the Illinois REALTOR® magazine, e-newsletters and other publications, and assists with new releases, issues research, surveys and speechwriting. She also plans and develops content for the IAR blog at www.iarbuzz.com and coordinates the Illinois REALTOR® magazine Twitter account content at ILREALTORmag. She coordinates the Leadership Directory and serves as co-liaison to the Illinois Young Professionals Network.