Proposed tax changes make it wise to sell any commercial real estate properties now if you are considering selling in the next couple of years in order to take profits, advised John Chang, senior vice president and national director of research services at Marcus & Millichap.
"Get it in motion today," stressed Chang in a video on the company's website.
Speed is of the essence because the Biden Administration proposal to set a $500,000 cap on 1031 tax-deferred exchanges would inhibit the ability to put gains from the sales of existing properties into new commercial real estate investments, Chang pointed out.
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