2018 Tax Alert : Rental Real Estate by Paul Ferraresi

The newly implemented Tax Law for 2018 through 2026 has some marvelous benefits for individuals. True , what the Government “Giveth” the Government “Taketh” away.
Namely, with any new tax savings in an area one pays taxes in another area.

For most Americans the “SALT” (State, local, sales and property tax deduction)limitation of $10,000 will be hurtful .

Be Aware!!!! If you own rental property and report it on Schedule E, there are new limitations. If you have Schedule E losses , then, those losses begin to Phase Out at incomes of $100,000. The losses are completely Phased Out at $150,000 of income. See your tax advisor( not Turbo Tax) on how to restructure ownership of these properties to keep your liability protection in place while allowing these passive losses.

An exception to this rule applies to Real Estate Professionals and Developers.

Watch my new FREE webinar, How To Double Your Social Security Benefits While Reducing Your Taxes By 80% In Retirement, take advantage of the free offer at the end.

Check out our other blog, the Wealthy Future Blog, to learn all the principles of Missed Fortune, as outlined by best-selling author, Doug Andrew. The articles, audio and video programs will provide information which you will find both enlightening and empowering!

You can also visit our website at Founders Group to learn more about how we can help you optimize your assets or provide you with any financial advice.

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