Proposed Tax Hikes Could Hit News Today : Breaking News, Live Updates & Top Stories | Vimarsana

12 Must Reads for the CRE Industry Today (May 3, 2021)
Bisnow and The Real Deal provide two more analysis pieces on the potential implications of the Biden tax proposals for 1031 exchanges. Real estate titan and philanthropist Eli Broad died at age 87, reports the New York Times. These are among today’s must reads from around the commercial real estate industry.
Biden s Proposed Tax Hikes Could Hit CRE Retroactively “Generally, taxes are prospective in nature and go into effect a year or two after passage, KE Andrews property tax consultant Tony Trahan said. Former President Donald Trump s tax changes outlined in the Tax Cuts and Jobs Act of 2017 went into effect the year after their passage. But there is a strong precedent to apply these hikes to the 2021 tax year if Biden wants to begin collecting money, Trahan said.” ( ....

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