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Are you wondering about The American Families Plan, aka Biden Tax Proposals, and how it will impact real estate gains?
What are some of the things you can do now?
What if you want to liquidate a long term owned real estate portfolio but are worried about the tax on what will be a large capital gain. What if you would like to retire and no longer manage the properties?
In this episode, accountant Bob Russo, aka CPABOB and Delaware Statutory Trust (DST) expert Rob Pecha, aka 1031ROB discuss planning for the future and explain terms like stepped up basis, boot, depreciation recapture and more. This is a must listen for those considering a sale out of an existing real estate investment portfolio using the 1031 like kind exchange and also everyone else that one day may be doing the same.
In the episode we talked about how you can contact your elected representatives to oppose the changes proposed in The American Families Plan. Here are those links.
Who Represents Me? NYC (New York City 5 Boroughs only) https://www.mygovnyc.org/
My Reps ( All 50 States) https://myreps.datamade.us/
Take Action to Support retention of IRC Section 1031 Like-Kind Exchanges (from 1031 Rob) https://1031buildsamerica.org/take-action
We also mentioned Opportunity Zones and the other DST – Deferred Sales Trust. Here are the links to those Realty Speak episodes.
Episode 005 – Deferred Sales Trust – It’s an Option!
https://realtyspeak.nyc/episode-005-deferred-sales-trust-its-an-option/
Episode 018 – Land of Opportunity IS in the O-Zone – Really!
https://realtyspeak.nyc/episode-018-land-of-opportunity-is-in-the-o-zone-really/
To Reach CPABOB:
Robert P Russo CPA, PC
robert@robertprussocpa.com
https://www.robertprussocpa.com/
https://www.linkedin.com/in/bob-russo-23b8b01/
To Reach 1031ROB
Robert Pecha
rmpfinancial1@gmail.com
https://1031rob.com/
https://www.linkedin.com/in/robertmarkpecha/
To Reach Bill:
As always – Bill, the host of Realty Speak, is ready to be a resource to you when you finance, sell or purchase investment real estate and help you navigate around what you already own.
Email Bill at bill@billweidner.com
Call/Text at 917-232-8529.
Visit Bill’s website www.billweidner.com
Connect with Bill on LinkedIn https://www.linkedin.com/in/billweidner/
ALL EPISODES: https://realtyspeak.nyc/episodes/
Additional Resources from Bill:
NYC Local Law 152 – Periodic Inspection of Gas Piping Systems – Solution @ www.KeepMyGas.nyc
Property Owner and Property Manager Resource Page – https://www.keepmygas.nyc/property-owner-resources/
Commercial Mortgage Quote – Click HERE to receive FREE from my loan partner Janover Ventures when considering the financing of any part of your existing portfolio or when purchasing a new building or site. I will be notified and help you with the process.