Trump Tax Saga Shines Spotlight on Benefits of CRE Ownership

Depreciation, debt write-offs, tax credits and other measures are among the tax avoidance benefits inherent in the sector.

It may seem like a lifetime ago, but before news of the ongoing COVID-19 outbreak involving President Trump, White House staffers, Republican politicians and others, the New York Times stirred up a political firestorm surrounding President Trump’s personal finances with a new investigation revealing a staggering amount of business losses over the past two decades. The headline grabber was that he paid just $750 in personal federal income taxes in 2016 and 2017 and nothing in 11 of the 18 previous years. Additionally, the article said he claimed a total of $1.4 billion in losses from his core businesses for 2008 and 2009 and collected a $72.9 million refund for the 2010 tax year...
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RSK: One of the items that may be on the chopping block after the election is the 1031 Exchange for CRE. That would be a big minus for development and growth in many cases.



- - Volume: 8 - WEEK: 42 Date: 10/13/2020 8:34:44 AM -