tax bill 2017: Guess where the high networth individuals are investing? - 07/06/18 09:46 AM
There is no doubt that Florida attracts foreign and out-of-state buyers. Recently, there is a sudden flow of high income individuals scooping properties throughout the state. In fact, most of them are focusing on multi-million homes. The reason behind this trend is most likely due to the tax bill that was introduced last year. In fact, it drove the traffic to Florida where more people are making Florida their primary residency.
According to The Real Deal, the new tax bill limited the taxpayer’s ability to deduct their state and local tax from their federal taxable income. This means that individuals from high … (2 comments)