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In our last two posts, we addressed the potential impact of the elimination of 1031 exchanges, the last asset class to enjoy the benefits of this 100-year-old investment tool. We now move on to another plank of President Biden’s policy platform: taxing capital gains at ordinary rates, which we have grave concerns about.
On Inauguration Day we continued our series on President Biden’s plans to raise taxes and change the tax code in ways that would have a direct negative impact on real estate markets across the country.
It’s official. The United States of America has a new President, its 46th since the US Constitution was established in 1787. The transfer of power this time around was a rocky one, but President Biden’s swearing-in on January 20th is in the history books and we now focus on his “first 100 days” where most of the components of his campaign platform should begin to take shape.