real estate winners

Performance Property Real Estate Question

New Tax Law’s Winners & Losers

Q: Gerald, who are the big winners under the new tax law that just passed? Sandra, NY, NY A: Under the new tax law, taxable income is likely to increase for most people but the rate percentages are lower which may offset tax increases. The best way to see how the new law will affect you is to scrutinize your own taxes before and after the new law to see how your tax burden changes. Here are 5 winners and 5 losers under the new tax law: New Tax Law Winners Corporations-tax rates lowered from 35% to 21% Corporations-AMT (alternative minimum tax) repealed Pass through entities-taxes under the new law are lowered by a 20% deduction for qualified business income […]

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