New Tax Laws and Capital Gains

Thinking about selling my mobile home park. Would it be wise to wait until the new tax laws are in place, thinking I might get a break on capital gains tax?

It may pay to wait. A few weeks ago I read an article saying that Trump wants to redo the whole capital gains and 1031 laws to make it much more business and investor friendly. But then on the other hand, I have also been reading a whole lot of articles about how the Republicans in Congress can’t get it together.

Got some insight from a lender; he says Trump’s plan did not call for a reduction but the House of Reps does. The Senate, on the other hand, is calling for an increase. sigh Guess I’ll roll the dice and take my chances.

Just spit-balling here…

Its like asking how much does a bag of groceries weigh?
Answer: it depends

Your equity/tax/management/etc. position will determine what your options are.

Why are you considering a sale?
-path to cash
-tired of management
-other/better opportunities
-estate planning
-possible future asset depreciation due to forces outside your control

Maybe you don’t have to sell
All roads lead to Rome.

Selling is ONE WAY to get to the next phase.
There are others…

Tax policy has and always will change.
That’s the one thing certain.

What’s best for you and your family going forward?

Keep us posted,

Mike

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I definitely would not make any long term financial decisions based on what the GOP clowns in Congress, and the ringmaster of the circus in the Whitehouse, are currently saying.