Thursday morning the US House of Representatives unveiled its long-anticipated $1.51-trillion tax reform measure, a sweeping piece of legislation called the “Tax Cuts and Jobs Act.”
To cut to the chase for our readers: the bill has largely good news for the commercial real estate industry. The capital gains incentive is retained as are the current like kind exchange 1031 rules. The bill also recognizes that the cost of real estate debt is a necessary business expense and interest on debt used in a real estate trade or business would continue to be deductible.
Read more...CRE Fares Well in House of Representatives' Tax Plan | GlobeSt.com
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