The Tax Cuts and Jobs Act has changed the dynamics of our finances and the profitability of investments. While much of the press coverage around the new rules has been on its drawbacks, there exist some positive financial opportunities for those who educate themselves and act on new breaks.
The new tax law both protects some crucial breaks and provides new ones. Some of these give real estate investors great advantages in building wealth and passive income and keeping tax liabilities down. For those already feeling the pressure of filing income taxes and who may be cringing in anticipation of meeting with their accountants, there is hope — especially for those who expand real estate investments or get started with real estate investing in 2018.
While the Tax Cuts and Jobs Act (TCJA) was one of the most controversial and confusing legal and tax changes in decades, and with some headlines making the changes sound like tax armageddon for those living in high-cost states like New Jersey, New York and California, the TCJA may actually bring many benefits to those who learn how to use them and seek out professional advice.
Original article by Kent Clothier, read more at Forbes
