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Intern Outlook With James Beard: Biden’s American Families Plan And 1031

The Biden Administration is not the first to attempt to limit 1031 exchanges. Donald Trumpu2019s Tax Cuts and Jobs Act ended personal property exchanges back in 2017, so currently like-kind exchanges apply exclusively to commercial real estate. The new administration argues Section 1031 of the IRC only benefits the wealthy and wants to get rid of the provision Donald Trump and thousands of other real estate investors have utilized for decades. Read more on https://bit.ly/3kV3lS5

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Intern Outlook With James Beard: Biden’s American Families Plan And 1031

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  1. Intern Outlook With James Beard: Biden’s American Families Plan And 1031 Biden’s American Families Plan and 1031 In recent months, President Biden introduced the American Families Plan with the goal of “making education more affordable and expanding opportunity, providing economic security for families, and expanding tax credits that help workers and families.” Along with reversing various tax cuts introduced in the 2017 Tax Cuts and Jobs Act, one of the more

  2. notable propositions is limiting the 100-year-old provision of the Internal Revenue Code (IRC), the ‘like-kind exchange’ provision, allowing for deferment of capital gains and recapture taxes on properties held for investment. The Biden Administration is not the first to attempt to limit 1031 exchanges. Donald Trump’s Tax Cuts and Jobs Act ended personal property exchanges back in 2017, so currently like-kind exchanges apply exclusively to commercial real estate. The new administration argues Section 1031 of the IRC only benefits the wealthy and wants to get rid of the provision Donald Trump and thousands of other real estate investors have utilized for decades. Read More: Intern Outlook With James Beard: Biden’s American Families Plan And 1031 Contact Details: 415-485-4500 Fund Accounting Service Read More Blogs: Proprietary Technology - Phoenix American Financial Services Fund Administration Services For Alternative Investment Funds - Phoenix American

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