The Tax Cuts and Jobs Act of 2017 ushered in many new tax breaks that may benefit owners of residential real estate.
One of the deductions that may benefit landlords is the 20% deduction for Qualified Business Income offered by Section 199A.
Property owners wishing to claim the deduction for 2019 must meet certain statutory requirements and should plan now, as many rules require landlords to take action early next year.
You can read more about these tax breaks here: Wall Street Journal
Working with your trusted Evans & Davis advisor today will assist you in determining whether you qualify for the deduction and the steps you must take to claim it.