This year I’ve been doing a lot of work with some Property Owners and Investors. Amazing how much I’ve learned on a topic I had no previous interest. The rules are many and constantly changing. Keeping up to date is vital,
One of the most recent changes is the Mortgage Interest Deduction has been revised by the Tax Cuts and Jobs Act, and the changes will take effect beginning with returns filed in 2019. This leaves the Landlord to find 30% extra tax. When I started doing my homework it’s amazing the other things Landlord can sometimes be unaware of.
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
Published on LBN by Tony McDonough Twitter