ThinkCivics News
An educated citizenry is a vital requisite
for our survival as a free people.
Join ThinkCivics+
  • Culture & Society
  • Economy
  • Health
  • US News
  • Faith
  • Science & Tech
  • World News
No Result
View All Result
ThinkCivics News
  • Culture & Society
  • Economy
  • Health
  • US News
  • Faith
  • Science & Tech
  • World News
Join ThinkCivics+
No Result
View All Result
ThinkCivics News
Join TC+
Home Economy

Investors Fret as Biden Takes Aim at a 100-Year-Old Tax Loophole

ThinkCivics Newswire by ThinkCivics Newswire
June 8, 2021
in Economy
Reading Time: 2 mins read
0
0
Investors Fret as Biden Takes Aim at a 100-Year-Old Tax Loophole

The use of the tax deferral mechanism also provides an opportunity to close the national wealth gap that the killing of George Floyd and the subsequent unrest have focused attention on, said William Brown, a founder of Springhill Real Estate Partners. The firm is a syndicator that pools like-kind exchange proceeds and money from smaller investors to invest in apartments in the West and Northwest. In general, like-kind exchanges allow these investors to trade up from duplexes to fourplexes, and then from fourplexes into larger apartment communities, and so on, he said.

“More and more minorities want to become real estate investors because they can see the benefit of building wealth and income,” said Mr. Brown, an African American and a past president of the National Association of Realtors. “Getting rid of the 1031 exchange would hamper their ability to do that, because most investors cannot afford to sell a property and then buy something else after paying taxes.”

Section 1031 also encourages the reuse of buildings because investors often focus on adding value to older properties that need work, said Karlin Conklin, a principal and co-president of Investors Management Group, another syndicator that invests in apartments. In 2017, Investors Management paid $19 million for a 136-apartment property in suburban Portland, Ore., and plowed an additional $1.5 million into it to build a clubhouse and make other upgrades.

“We made it a far better apartment community in which to live and a far better building within the neighborhood,” said Ms. Conklin, who with her husband has personally been investing in properties for more than 20 years. “Without exchanges, there’s going to be less money dedicated to improving older real estate stock that is in need of a capital infusion.”

The proposal to overhaul Section 1031 is nothing new — similar ideas have surfaced after presidential elections only to sink. In 2017, however, the Trump-era tax cuts eliminated exchanges of machinery, vehicles and other personal property from the provision.

In this congressional session, Democrats appear to be placing enormous emphasis on creating a fairer tax code along with investing in infrastructure and social programs, said Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy, a nonprofit group in Washington that advocates equitable revenue-raising measures.

This article was originally published by NY Times. Read the original article.

ThinkCivics Newswire

ThinkCivics researches, examines, and reports on issues that matter most. We deliver explanative, fearless, and insightful analysis for public consumption.

thinkcivics.com
Tags: BidenCapital Gains TaxFederal Taxes (US)High Net Worth IndividualsJoseph R JrReal Estate (Commercial)Real Estate and Housing (Residential)

Related Posts

The Sinister Roots of Build Back Better

The Sinister Roots of Build Back Better

May 26, 2022
Watch: Davos Elites Warn “Painful Global Transition” Should Not Be Resisted By Nation-States

Watch: Davos Elites Warn “Painful Global Transition” Should Not Be Resisted By Nation-States

May 24, 2022

This Year’s World Economic Forum in Davos Is as Disturbing as You’d Expect

May 23, 2022

Is Trump A Modern Day Nostradamus? Watch His Prediction Of What Would Happen If Biden Won

May 23, 2022
Load More
Next Post
The Depravity of the Democrat Party, the American Left, and the Media

The Depravity of the Democrat Party, the American Left, and the Media

The Pandemic that Keeps on Giving

The Pandemic that Keeps on Giving

Why a Judge Has Georgia Vote Fraud on His Mind: ‘Pristine’ Biden Ballots That Looked Xeroxed

Why a Judge Has Georgia Vote Fraud on His Mind: ‘Pristine’ Biden Ballots That Looked Xeroxed

TODAY'S TOP STORIES

  • Here’s a Three-Word Policy That’s Been Effective in Stopping School Shootings

    Here’s a Three-Word Policy That’s Been Effective in Stopping School Shootings

    0 shares
    Share 0 Tweet 0
  • Unvaccinated People Will Be Barred From This, Starting May 31

    0 shares
    Share 0 Tweet 0
  • Reporter Shuts Down Blue Checkmark Leftist ‘Hack’ Distorting His Coverage of Texas School Shooting

    0 shares
    Share 0 Tweet 0
  • FBI Agent at Sussmann Trial Just Dropped a Bomb About an Ongoing Investigation

    0 shares
    Share 0 Tweet 0
  • Watch As Nancy Pelosi Has Meltdown During Live Interview To Roe v. Wade Question

    0 shares
    Share 0 Tweet 0

Newly obtained memo shows John Kerry was conducting ‘secret’ meetings with Iran during the Trump administration

by ThinkCivics Newswire
May 26, 2022
0
Newly obtained memo shows John Kerry was conducting ‘secret’ meetings with Iran during the Trump administration
National Security

This article was originally published on Twitchy.com. Read the original article.

Read more

Handwritten Notes From 2017 Show FBI Agents Mislead DOJ On The Trump-Russia Investigation

by The Federalist
May 19, 2022
0
Handwritten Notes From 2017 Show FBI Agents Mislead DOJ On The Trump-Russia Investigation
National Security

Hillary Clinton’s campaign lawyer Michael Sussmann is currently on trial for lying to the FBI about his role in pushing...

Read more

Jankowicz Got The Boot, But Biden’s ‘Ministry Of Truth’ Hired Replacements Are WORST

by ThinkCivics Newswire
May 19, 2022
0
Jankowicz Got The Boot, But Biden’s ‘Ministry Of Truth’ Hired Replacements Are WORST
National Security

The Department of Homeland Security (DHS) hired the co-author of the PATRIOT Act, arguably the harshest crackdown on civil liberties...

Read more

MSNBC Guests Want GOP Labeled ‘Domestic Terror Party,’ Jail Time For Having The Wrong Opinions

by The Political Insider
May 19, 2022
0
MSNBC Guests Want GOP Labeled ‘Domestic Terror Party,’ Jail Time For Having The Wrong Opinions
National Security

We all know that Democrats and the left love to operate on the premise of “never let a good crisis...

Read more
The Sinister Roots of Build Back Better
Economy

The Sinister Roots of Build Back Better

by American Thinker
May 26, 2022
0

President Joe Biden and the puppeteers who control his teleprompter are weakening the country in order to gain more power...

Read more
Watch: Davos Elites Warn “Painful Global Transition” Should Not Be Resisted By Nation-States
Economy

Watch: Davos Elites Warn “Painful Global Transition” Should Not Be Resisted By Nation-States

by Zero Hedge
May 24, 2022
0

As World Economic Forum head Klaus Schwab proclaimed that “the future is built by us” at the opening of the...

Read more
This Year’s World Economic Forum in Davos Is as Disturbing as You’d Expect
Economy

This Year’s World Economic Forum in Davos Is as Disturbing as You’d Expect

by RedState
May 23, 2022
0

It’s the time of year again when thousands of the world’s most powerful and wealthy people gather in Davos, Switzerland...

Read more
Is Trump A Modern Day Nostradamus? Watch His Prediction Of What Would Happen If Biden Won
Economy

Is Trump A Modern Day Nostradamus? Watch His Prediction Of What Would Happen If Biden Won

by The Political Insider
May 23, 2022
0

President Trump is many things, to friend and foe alike. Is being a modern day Nostradamus among them? At least...

Read more
Facebook Twitter RSS

Brilliantly

SAFE!

thinkcivics.com

Content & Links

Verified by Sur.ly

2022

Recent News

  • Newly obtained memo shows John Kerry was conducting ‘secret’ meetings with Iran during the Trump administration
  • The Sinister Roots of Build Back Better
  • Watch: Why a Gun-Free America Is an Impossibility

Category

  • Culture & Society
  • Economy
  • Editorials
  • Education
  • Elections
  • Energy
  • Environment
  • Faith
  • Health
  • Immigration
  • Military
  • National Security
  • Politics
  • Science & Tech
  • US News
  • Videos
  • World News

© 2022 ThinkCivics Media. All Rights Reserved.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • About
  • Store
  • Contact Us
  • Join
  • Contribute

© 2022 ThinkCivics Media. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.