GMAR REALTOR STORE HAS MOVED TO MINUTEMAN PRESS IN BROOKFIELD
The GMAR Realtor store is closed and Minuteman Press in Brookfield is now selling Real Estate Supplies! Visit them at 13680 W. Capitol Drive, M-F 8am-5pm. If you have any questions, feel free to contact them at 262-781-9622.
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 WELCOME NEW GMAR STAFF MEMBER!
Welcome Stacie Lee Purko to the GMAR staff! Stacie Lee joined the GMAR in December 2017 and helps manage the Home and Garden Show, the day to day activities at GMAR and helps with events.
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THE TAX CUTS AND JOBS ACT - WHAT IT MEANS FOR HOMEOWNERS AND REAL ESTATE PROFESSIONALS
The National Association of REALTORS® (NAR) worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investment, as well to ensure as many real estate professionals as possible would benefit from proposed tax cuts. Many of the changes reflected in the final bill were the result of the engagement of NAR and its members, not only in the last three months, but over several years.
While NAR remains concerned that the overall structure of the final bill diminishes the tax benefits of homeownership and will cause adverse impacts in some markets, the advocacy of NAR members, as well as consumers, helped NAR to gain some important improvements throughout the legislative process. The final legislation will benefit many homeowners, homebuyers, real estate investors, and NAR members as a result.
Last-minute changes to the bill include:
- Capital gains exclusion. In a huge win for current and prospective homeowners, current law is left in place on the capital gains exclusion of $250,000 for an individual and $500,000 for married couples on the sale of a home. Both the House and the Senate had sought to make it much harder to qualify for the exclusion.
- Mortgage interest deduction. The maximum mortgage amount for households deducting their mortgage interest has been decreased to $750,000 from the current $1 million limit. The House bill sought a reduction to $500,000.
- State and local tax deductions. Both property taxes and state and local income taxes remain deductible, although with a combined limit of $10,000. Both the House and Senate bills sought to eliminate the state and local income tax deduction altogether.
- Pass-through entities. The bill significantly reduces the effective rate of tax on business income earned by independent contractors and income received from pass-through entities. This change will lower the taxes of many real estate professionals.
Access the tax reform summary document here
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KETTLE MORAINE COUNCIL MARDI GRAS PARTY
February 6th at Jug's Hitching Post in West Bend
Save the date for the GMAR Kettle Moraine Council Mardi Gras Party on February 6th at Jug's Hitching Post. For $10 you receive a drink ticket, heavy hors d'oeuvres and free raffle tickets! We will also be giving out an award for the best Mardi Gras mask.
Click here to register
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REALTOR® & GOVERNMENT DAY
February 7th 
Join your colleagues from the GMAR and REALTORS® from across the state as they converge in Madison on Wednesday,
February 7 to help shape the laws that impact you and your real estate business. The first 300 registrants are free. Register now by calling or emailing Marne Stuck. (414)778-4929.
Don't want to drive?
Ride the bus and enjoy lunch for FREE thanks to our sponsors: Chicago Title, HMS Home Warranty, House To Home Inspections, Landmark Credit Union, and RE/MAX Realty 100. If you are interested in reserving a seat on the bus, please let Marne know when you call to register. Space is limited to 50 passengers.
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ST PADDY'S DASH
Presenting Sponsor: A+ Mortgage 
Save the date: Sunday, March 11th at Hart Park in Wauwatosa for the 6th Annual St. Paddy's Dash, 5K Run/Walk to benefit the GMAR Youth Foundation.
Sponsors and silent auction items are needed -contact
Scott Bush
at GMAR
(414) 778-4929
Click here to register.
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To learn more about local real estate or to become a GMAR member visit
gmar.com
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