New Capital Gains Tax Law, 1031 Exchanges Gone & Bad News For Real Estate Investors.
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_________________________________________________________________________ This New Tax Law Will END Investing… New president Joe Biden has proposed a Capital Gains tax law that would greatly impact investor of many kinds. However, Real Estate is the major one at risk. For the longest time, real estate investor have had the opportunity to grow their portfolio quickly by jumping from property to property without paying ANY tax due to something called a 1031 exchange. It basically allows you to roll it into the next one, and you are just deferring the tax until a later date. But this new 39.6% capital gains tax proposal could mean the end of the 1031 exchange, AND an increase of long term capital gains from 20% to over 39.6%. If this happens, I think we would see a lot less people ever selling their properties, which would impact a lot of things. However, that would make it harder to buy new properties as an investor, because there are less investment properties trading hands since nobody wants to realize their gan and pay the taxes. I believe we would see a lot more cash out refinances happening. This would also impact people who buy into the markets (stocks & crypto). This new proposal is a big disruption, and many investors are on the edge of their seat waiting to see what happens. It would cause a massive shift in the way things have been happening for 100+ years. So this is something to keep in mind if you are thing about buying rental property. It will greatly impact my business tax and personal income tax if this goes through. But there's always solutions. For an example, if you just never sell the property and leave it to your family when you pass away, it is re-evaluated at the current value, thus avoiding taxes indefinitely as that cycle continues. Drop a LIKE if you enjoyed the video!
*Disclaimer* I am not in any way a certified financial advisor, nor do I pretend to be one. Any information or advice I give you on any social media platform is simply my opinion based on my own own experience and research. There is no guarantee on anything due to the fact that there are many variables in your success.
This New Tax Law Will END Investing…