ReSure Financial

📢Real Estate Tax Bulletin: 100% Bonus Depreciation is no longer close to coming back😞

The Tax Relief for American Families and Workers Act of 2024, containing attractive real estate tax provisions, passed the House in January 2024 with strong bi-partisan support and was expected to become law.

Unfortunately, as of August 1, the Senate failed to pass the TRAFWA by a vote of 48 to 44. 60 votes were required for it to pass the Senate.

Key provisions of the bill, impacting real estate:
▶️100% bonus depreciation through the end of 2025
▶️Increasing interest tax deductions
▶️Increasing Section 179 tax deductions

At this stage, it's unlikely that there will be any significant tax legislation passed until after the November 2024 election.

https://members.resurefinancial.com/posts/the-trafw-act-of-2024-what-real-estate-investors-need-to-know-and-do

The TRAFW Act of 2024: What Real Estate Investors Need to Know and Do Status update, 8/1/24 : Unfortunately, the Senate failed to pass the American Families and Worker’s Act of 2024 (TRAFWA) by a vote of 48 to 44 (it required 60 votes to pass). The Tax Relief for Ame...