Trump's proposed tax plan
hey guys, first post. IV kind if been lurking the forums, iv watched what feels like every YouTube video and half of the bp podcasts in the past 2 weeks. I'm only 24 so I don't have much experience but I like to think of myself as a sponge for information. I'm so happy I found this place and I know it will be a key component to my success. Anyways I was curious if any of you had seen Trump's tax preposal?? The implications are huge for the potential tax write off's I know many of you use aren't they??
the article from Bloomberg:
"So-called pass-through entities, which include partnerships and limited liability companies, would see their rate capped at 25 percent. Currently, those businesses -- which can range from mom-and-pop grocers to hedge funds -- don’t pay income tax themselves but pass their income through to their owners, who then pay tax based on their individual income-tax rates.
While the pass-through rate cut would represent a major tax break for lucrative pass-throughs, tax-writers would craft measures aimed at preventing individuals from recharacterizing their personal wages as business income, according to the people, who asked not to be identified because the framework is not yet public.
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As I understand it, this would essentially eliminate an entire profit avenue from real estate investment, probably resulting in stark opposition from investors...