Updated about 5 years ago on . Most recent reply
Trump vs Biden proposed tax plans
Here is a nice breakdown I found of the proposed tax plans for Trump vs Biden. Unfortunately, Biden's tax plans are not very friendly to RE investors.
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I can tell you as a business owner and independent contractor that Biden’s plan scares me. The decrease in itemized deductions, potential elimination of the 1031, increase tax on capital gains would all impact me personally in a very negative way. This all needs congressional approval obviously but for investors I would be very concerned with what Biden has proposed. Trump’s plan will not personally impact me in a negative way but I can only speak for my specific tax situation.