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Professional Analysis of the New Tax Bill
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HeartOfDixie Offline
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Post: #11
RE: Professional Analysis of the New Tax Bill
There will be massive changes for real estate investments and how they are structured.

Just a year ago one wouldn't even consider utilizing a Corporate structure to hold passive income but under the new law it isn't a bad idea.

This is going to be a great benefit for a lot of states because these holding companies can be more precisely controlled and the investment better manipulated and precise.
01-08-2018 12:05 AM
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Native Georgian Offline
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Post: #12
RE: Professional Analysis of the New Tax Bill
Most of my personal acquaintances are anti-GOP and I’ve made a point to ask as many of them as I can, what is bad about the new tax law, what they don’t like about it, etc.

So far, everyone (6 people) has answered that lowering the corporate rate to 21% and capping SALT at $10k are both terrible ideas. But nobody has mentioned anything else. Which makes me wonder, is the bill non-controversial aside from those two specific provisions?
01-08-2018 12:38 AM
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Post: #13
RE: Professional Analysis of the New Tax Bill
(01-08-2018 12:38 AM)Native Georgian Wrote:  Most of my personal acquaintances are anti-GOP and I’ve made a point to ask as many of them as I can, what is bad about the new tax law, what they don’t like about it, etc.

So far, everyone (6 people) has answered that lowering the corporate rate to 21% and capping SALT at $10k are both terrible ideas. But nobody has mentioned anything else. Which makes me wonder, is the bill non-controversial aside from those two specific provisions?

So they don't like efforts to keep American jobs here and think the well to do need that extra tax break.

And the fact is that the AMT eats up that SALT now unless you are in a really high tax bracket.
01-08-2018 12:16 PM
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Post: #14
RE: Professional Analysis of the New Tax Bill
Come April 2018 what is going to gain a lot of notice is not itemizing.

I was slated to be a loser under the tax bill but the last round of changes have garnered me a cut based on the various calculators.

It will be interesting to see the reaction. Will it be yipiee I don't have to track receipts if we have less than $24,000 in deductions or will it be hey I can't take my $16,000 in deductions any more, they screwed me?
01-08-2018 02:31 PM
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aTxTIGER Offline
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Post: #15
RE: Professional Analysis of the New Tax Bill
(01-08-2018 12:05 AM)HeartOfDixie Wrote:  There will be massive changes for real estate investments and how they are structured.

Just a year ago one wouldn't even consider utilizing a Corporate structure to hold passive income but under the new law it isn't a bad idea.

This is going to be a great benefit for a lot of states because these holding companies can be more precisely controlled and the investment better manipulated and precise.

My 2018 got infinitely busier and less productive due to some of those changes. We just closed a REIT merger and will need to spend months trying to re-negotiating with our investors due to some of the changes in the tax bill.
01-09-2018 10:09 AM
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HeartOfDixie Offline
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Post: #16
RE: Professional Analysis of the New Tax Bill
(01-09-2018 10:09 AM)aTxTIGER Wrote:  
(01-08-2018 12:05 AM)HeartOfDixie Wrote:  There will be massive changes for real estate investments and how they are structured.

Just a year ago one wouldn't even consider utilizing a Corporate structure to hold passive income but under the new law it isn't a bad idea.

This is going to be a great benefit for a lot of states because these holding companies can be more precisely controlled and the investment better manipulated and precise.

My 2018 got infinitely busier and less productive due to some of those changes. We just closed a REIT merger and will need to spend months trying to re-negotiating with our investors due to some of the changes in the tax bill.

We are in much the same boat.

We are going to have a pretty busy year reorganizing various clients that want to take advantage of various aspects.
01-09-2018 10:12 AM
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Redwingtom Offline
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Post: #17
RE: Professional Analysis of the New Tax Bill
(01-08-2018 02:31 PM)arkstfan Wrote:  Come April 2018 what is going to gain a lot of notice is not itemizing.

I was slated to be a loser under the tax bill but the last round of changes have garnered me a cut based on the various calculators.

It will be interesting to see the reaction. Will it be yipiee I don't have to track receipts if we have less than $24,000 in deductions or will it be hey I can't take my $16,000 in deductions any more, they screwed me?

I think you mean April 2019. Although for tax planning purposes, you should still be thinking of next year now. 03-wink
01-09-2018 12:21 PM
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Post: #18
RE: Professional Analysis of the New Tax Bill
(01-09-2018 12:21 PM)Redwingtom Wrote:  
(01-08-2018 02:31 PM)arkstfan Wrote:  Come April 2018 what is going to gain a lot of notice is not itemizing.

I was slated to be a loser under the tax bill but the last round of changes have garnered me a cut based on the various calculators.

It will be interesting to see the reaction. Will it be yipiee I don't have to track receipts if we have less than $24,000 in deductions or will it be hey I can't take my $16,000 in deductions any more, they screwed me?

I think you mean April 2019. Although for tax planning purposes, you should still be thinking of next year now. 03-wink

Correct. Brain gas there. 04-cheers

I have little faith in the American public to grasp that a $24,000 standard deduction is more valuable than itemizing $16,000 in deductions.
01-09-2018 02:02 PM
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solohawks Online
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Post: #19
RE: Professional Analysis of the New Tax Bill
The more people taking the standard deduction, the less easy it is to create impactful tax laws favoring certain people/groups
(This post was last modified: 01-09-2018 03:34 PM by solohawks.)
01-09-2018 03:33 PM
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Post: #20
RE: Professional Analysis of the New Tax Bill
(01-09-2018 03:33 PM)solohawks Wrote:  The more people taking the standard deduction, the less easy it is to create impactful tax laws favoring certain people/groups

And fewer people need paid assistance to file so not only is it more fair, it's citizen friendly.
01-09-2018 04:22 PM
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