I just read this article and would like to get the opinion from those that currently have investment properties. How do you all see the new tax plan affecting your taxation?
Does anyone else have facts or other articles they like to share?
Thanks for that link. Any idea whether the new pass through rate is permanent or does it sunset at some point like some of the other items in the tax bill?
I've found a few links, but the full ramifications for a buy and hold investor/landlord are yet to be seen:
@Aubrey P. I am not sure on the longevity. I am guessing that it will be that way until another POTUS decides to shake things up. Thanks for the links, I will check them out.
Here's the latest information I've found:
The two versions differ on how to tax “pass-through” business income that is currently taxed at the individual rate of the business’s owners. The House bill sets a lower top rate with an exception for professional service businesses like in law or accounting. The Senate bill creates a new deduction for pass-through income.
Pass through in the Senate version(most likely): 23% deduction, phasing out for professional service income beginning at $250,000. Expires after 2025.
It's a shame the House's version didn't pass with a 25% pass through tax rate.
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