The Many Unknowns In The Tax Bill’s CRE Provisions
January 2, 2018
Types : In the News
The Tax Cut and Jobs Act is the biggest change to the US tax code in 30 years. Little wonder, then, there are provisions that need further clarification from the Treasury Department. Here are the CRE-related ones that bother experts the most.
What It Says
Taxpayers other than corporations will be allowed a deduction of approximately 20% of their qualified business income, Montgomery McCracken Senior Tax law partner Gary M. Edelson explains to GlobeSt.com. This amount is going to be the lesser of 20% of the qualified business income or the greater of 50% of W-2 wages paid to employees and 25% of W-2 wages plus 2.5% of unadjusted basis of qualified property.
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