Landlords Could Take Big Hit Under New Tax Bill
It could be an oversight—or it could be political leverage—but whatever it is, the tax bill as passed by the U.S. Senate would hammer rental property owner’s bottom line. The tax bills have been moving so fast that perhaps the reality of the proposed changes hasn’t hit home yet.
The RPOA is encouraging its members to call their congressman and senators to alert them of the potentially financial devastation some of the proposed tax changes could do to rental property owners with passive income. Here’s more on Forbes.com about the House and Senate versions of the bill and how they will impact rental property owners.
There’s still time to fix this as the conference committee wrangles with merging both tax bills. Here’s how to contact your congressmen and senators:
Senator Gary Peters (616) 233-9150
Senator Debbie Stabenow (616) 975-0052
Congressman Justin Amash (616) 451-8383
Congressman Bill Huizenga 616-570-0917