How tax reform will benefit President Trump?s real estate investments
A certain family business stands to gain from provisions of the tax reform package President Trump has been bullish on the many different ways tax reform will supercharge the economy, make U.S. companies more competitive, and continue the stock market?s record rise. He?s also said, multiple times, that the legislation, currently in reconciliation between House and Senate leaders, won?t offer any advantages to himself.
During a speech in St. Charles, Missouri, in late November, the President said both his wealthy friends and his accountants were ?going crazy? due to tax reform, and that they?d lose out due to changes in rates and deductions. ?The rich people actually don?t like me,? he said.
President Trump on tax reform: "My plan is for the working people, and my plan is for jobs. I don't benefit" https://t.co/fEW6Y8FRft? NBC Politics (@NBCPolitics) September 27, 2017
Now that bills have passed both houses, offering a better sense of how the Tax Cuts and Jobs Act will ultimately impact tax breaks, rate reductions, and deductions, it?s clear President Trump may not have as much to worry about as he previously suggested.
While details vary between the House and Senate bills, the overall contours suggest President Trump and other wealthy real estate developers (as well as their accountants) will likely be quite happy. Here are the different ways tax reform benefits real estate moguls and big developers.
Lowering taxes on pass-through businesses
Pass-throu...
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