Tax Breaks for Real Estate Investors Could be Ending under Biden
Some people who own rental properties will sometimes sell those properties. Do they have to pay Capital Gains taxes on the profit each time they sell?
Some of the richest people I know own real estate as an investment. It all works great when you are renting it and you hold on to it.
Under the current tax law…there is a Tax Loophole that allows investors to exchange it for another “Like Kind” investment.
WARNING: The Biden Administration is considering removing this tax break, thus causing real estate investors to potentially face capital gain taxes when they sell their homes!
Recent news indicates the Biden Administration plans to RAISE TAXES!
The Biden Administration claims to only affect people making over $400K but that is more FAKE NEWS!
- He plans to raise the Capital Gains tax for selling real estate!
I’ve Read Articles about the Biden Administration removed the Tax Deferral Loophole for 1031 Exchange:
- The Way it works:
- Send net proceeds to another investment and defer paying taxes on the profit.
Best Tax Break for Real Estate is:
- Your Primary Home
- Live in it 2 of the last 5 year
- Can profit:
- $500,000 if married
- $250,000 if single
- All TAX-Free
- Hopefully that Capital Gains Exemption Rule will stay in place… who knows
Why You Should Consider Selling Your Rental Property Soon before they change the tax code!
- Now is a GREAT TIME TO SELL A HOME!
- Available inventory = 426 Homes!
- ALL-TIME LOW!
- Interest Rates are still at Record Lows!
- Plenty of Demand for Homes
- Prices have risen over 19.2% in Past Year!
What we do: We Help
- Help people get their homes ready for sale
- Help People learn what to do and what not to do
- Help People plan out the showing process to get top dollar
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