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Originally Posted by the urban politician
Come to think of it, show me this supposed law pushed by landlords where landlords get a tax break for vacancies. I'd like to see it. I can't seem to find it in my searches.
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I obviously touched a nerve here. I'm pretty sure you know that the vacancy tax break has existed for a while. There doesn't need to be a new law written when something already exists.
On the other hand,
a new tax law was passed 2 years ago that included additional tax breaks for landlords at the Federal level.
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“If you purchase your property via a pass-through entity – such as an LLC, S-corporation, sole proprietorship, or partnership – you can further minimize your tax implications. The new tax laws have effectively brought the tax rate for pass-through entities down to 29.6 percent,” says Allen Shayanfekr, CEO/co-founder of Sharestates.
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“There are also new bonus depreciation rules,” says Samuel Tae, director of International Tax for Ryan, LLC. “These allow a taxpayer to immediately deduct from their taxable income 100 percent of certain capital expenditures and property improvements.”
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There is nothing small government or fiscally conservative about these changes.