- Standard deduction – way up.
- Itemized deductions – far less valuable.
- Misc employee exps – gone.
- State/local & property taxes capped at $10k total.
- Planning point: move expenses to other places or eliminate them because they have less/no value.
- LLC’s, S-Corps, Partnerships enjoy new 20% deduction.
- Planning point: How you hold your property investments can have a big effect
Extra Reading:
- https://www.biggerpockets.com/renewsblog/final-gop-tax-plan/
- https://www.biggerpockets.com/renewsblog/real-estate-loopholes-limitations-tax-bill/
- http://www.noradarealestate.com/blog/new-2018-tax-law-impact-real-estate-owners/
- http://www.nreionline.com/finance-investment/new-tax-laws-likely-increase-hnw-investment-real-estate
- https://www.mansionglobal.com/articles/85145-how-the-new-u-s-tax-law-impacts-property-owners
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