This year, rather than Networking on all aspects of business, I’m focused on what I know best – Hospitality. This included the actual Hotel and Apartment Owners. Through these contacts I’m been introduced to other Commercial Property Owners and Investors.
Amazing how much I’ve learned on a topic I had no previous interest. The rules in buying and selling Commercial property can be complex and very varied, constantly changing. Keeping up to date with all the laws is vital.
One of the most recent changes is in the Mortgage Interest Deduction been revised by the Tax Cuts and Jobs Act, and the changes will take effect beginning with returns filed in 2019. This leaves Landlord to find 30% extra tax. But just how many Landlords are aware of this?
When I started doing my homework, I found many people are not up to date with this latest rule change. I also learned, to my horror, many other important factors were missed by Landlord. It’s extradentary just how much some Business people can take for granted.
Below is a perfect example from a top Solicitor on the Wirral – David Kirwan, Managing Partner at Kirwans. David says too many Landlords don’t realise the possible implications of falling foul of a recent crackdown by Local Authorities.
Get the full story from David Kirwan
Published on LBN by Tony McDonough Twitter
For top legal help on this subject, or any other legal aspects, chat with https://www.kirwanssolicitors.co.uk/our-people/our-people/k/kirwan-david/