In a matter of seven weeks, the GOP has developed, amended, and reconciled a $1.456 trillion tax bill. On December 22, Donald Trump tweeted the tax bill into law.
If it feels like this all happened fast, it’s because it did. The Tax Reform Act of 1986, our country’s last major tax overhaul, took a little under two years to pass from start to finish.
This legislative history was promised to be aimed at the middle class. While I’m not going to dive into whether or not that promise was fulfilled, I can tell you this: real estate investors are major winners.
This article is not meant to be all encompassing. I have pulled out changes that I feel will impact the majority of BiggerPockets readers. So even though alimony rules have changed, this is the last time I’ll be mentioning it.