The Treasury Department has announced a new measure that would allow many businesses to get around the cap on state and local tax deductions. Congressional Republicans and the Trump administration implemented the $10,000 cap as part of their 2017 tax overhaul. But it has been met with heavy resistance from both the real estate industry and Democrats, especially in the Northeast and California, which were disproportionately affected. Efforts to repeal it have been in vain,
source https://therealdeal.com/2020/11/11/trump-plan-would-let-real-estate-firms-avoid-salt-deduction-cap/
No comments:
Post a Comment