Does anyone have any predictions on what impact the Biden Presidency will have on the livelihoods of real estate investors?
@seanjean someone just shared this outline of Joe Biden's tax plan with me, you might find some interesting details in there.
Biden wants to increase capital gains tax, do away with the 1031 exchange, and do away with pass through losses (ie losses from your rental real estate can no longer be used to offset your ordinary income). You tell me if that sounds good for real estate investors.
Mark Kohler, a CPA and tax attorney, breaks down the impact on small business owners in this video: https://youtu.be/3bflCoW3lVs
1 Like