Most investors buy with the intent to expand, and do so by planting seeds into newer and growing properties, which is called building equity. If investments are kept…
The Biden administration is introducing a new economic plan that will remove the right to defer federal tax payments on realized property-investment gains that are projected as being worth over $500,000. The move is in an effort to raise taxes on those with higher investment opportunities to increase funding for the American Families Plan. “Get rid of a loophole allowing Americans to make over $1 million a year and pay a lower tax rate on their capital gains than Americans who receive a paycheck,” US President Joe Biden proposed during his first joint address to Congress. “CEOs make 320 times what the average worker in the corporation makes,” he added, pointing out that only 1% of Americans were considered millionaires and billionaires. The American Families Plan is a proposed $1 trillion bill allocated towards providing free child care, paid leave, universal preschool for 3- and 4-year-olds, two years of community college and expanding health care.
