French Valley Real Estate

The general public needs to become quickly informed about the new proposed tax increases that will effect all of us. 1) The elimination of stepped up basis. (Exclusion of 1M value personally) 2) Above your exclusion amount cap gains tax rate will be 43.4% 3) Elimination of 1031 exchange option above 500K in gain. (Won't effect single family unless in high value areas. It will effect larger investment properties.) 4) unclear if basis of property is after depreciation or origi...nal purchase plus improvements. That maybe left to IRS interpretation, God help us. There are items in these new federal tax increase proposals that will adversely effect not just the wealthy as its being positioned. I am not making a political statement here, merely wanting to inform the public because it will effect all of us. There were some great articles in the last few days in the WSJ on this. Please be informed and vigilant. See more

Posts from Simplifying the Market for 05/01/2021 -

Posts from Simplifying the Market for 11/01/2020 -