How a Biden Income Tax Proposal Could Affect Real Estate Professionals
As we approach the end of 2021, many real estate investors are already thinking of the 2022 tax season — and for good reason. A new administration almost always adopts new rules and regulations, and the tax code is no exception. One of the targets of the administration of President Joe Biden is the net investment income tax (NIIT), and perhaps rightfully so. For 2021, the government will raise $27.5 billion in revenue generated from net investment income tax alone, according an analysis by the Congressional Research Service.