Manchin-Schumer deal closes real estate tax loophole – Robert Khodadadian

Senate Majority Leader Charles Schumer and Sen. Joe Manchin have agreed to a deal on long-stalled legislation that would kill the carried-interest tax loophole, which is treasured by some in the real estate industry. The senators announced a compromise on the Biden administration’s tax, energy and climate bill on Wednesday, Bloomberg reported. The plan, previously curtailed by Manchin’s ardent opposition, would generate an estimated $739 billion in revenue while spending $433 billion and reducing deficits

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Home Page, Politics, breaking, Joe Biden, Real Estate Finance, taxes The Real Deal New York Read More