Another Reason To Be A Real Estate Investor

You all know how much I love, love LOVE Real Estate. In my opinion, it's a premier vehicle for building wealth, as well as providing you with a steady income stream. Real Estate also provides wonderful tax deductions, which I've discussed in detail in my prior posts.  But did you know that the 20% Qualified Business Income Pass-Through Deduction now also applies to Schedule E Rental Income? YES! This was a last-minute addition to the Tax Reform Act. Sweet.In a nutshell, the 20% Pass-Through Income Deduction allows you to take 20% of taxable income (subject to certain limitations) as a deduction on your tax return beginning 2018. "Pass-Through Income" includes income from Schedule C, Schedule E, S Corporations and Partnerships.When discussing tax strategy with your tax accountant, make sure you include this new bit of information.