SAN DIEGO—Although most real estate businesses are notstructured as C or regular corporations, the Tax Cuts and Jobs Act reduces the highestcorporate tax rate from 35% to 20%, which may cause some of thesebusinesses to rethink their strategy, Phil Jelsma, a partner and chair of thetax-practice team at Crosbie Gliner Schiffman Southard & SwansonLLP, tells GlobeSt.com.
On Nov. 2, the House Ways and Means Committeereleased the act, which is its roadmap to tax reform. The Senateissued a mark-up of the Act on Nov. 9. The proposedtax-reform legislation is comprehensive, with many provisions thatimpact the commercial real estate industrydirectly. We spoke with Jelsma regarding the implications andpotential impact of the proposed tax reform bill on commercial realestate professionals.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
