biden tax | The Kwak Brothers

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Pay Off Your Loan Or Invest? Know What’s Better For You

Time and time again, I see people choosing to focus either a mortgage or an investment but not both at the same time. But which option is better to start with? In this article, I will show you how you can invest AND pay off your mortgage without the diminishing effects of either process. I want to show you that it’s possible to pay off your mortgage and invest simultaneously. More often than not, such a decision often depends on your financial situation. While many people believe that paying off money is best since it saves on your interest payments, others may want to invest their extra

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BREAKING! The Eviction Problem Just Got WORSE 😧

The eviction moratorium has completely expired and the US Supreme Court ruled against the CDC wanting to extend the moratorium. In addition to this, recently the Federal Unemployment Benefit also expired this week and the Biden Administration has no intention of bringing the unemployment benefit back as the economy is starting to open up.  https://www.youtube.com/watch?v=uaTUQruQjKQ In this video, I’m going to unpack what this all means and how real estate investors could potentially benefit from the eviction

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November 18, 2020

2020 Election Aftermath on Real Estate and Lending

2020 Election Aftermath on Real Estate and Lending In this video, I look over what the aftermath of the 2020 election will look like for either Donald Trump or Joe Biden. Joe Biden has been very open about his tax policies. He is looking to raise the corporate tax and get rid of a lot of tax benefits in the real estate investing world. I can say that Joe Biden’s tax plan, does not look good for business owners. Joe Biden wants to get rid of the step-up basis which would cause a tax on people inheriting property. Currently, there is no tax on inheriting a real estate property. Secondly, Joe Biden would want to do away with 1031 exchanges, which would cause a lot of real estate investors to be taxed on several investments. The issues that Donald Trump would have to deal with the fallout of the pandemic. What will Donald Trump do to recover from the economic issues that the lockdowns have caused? The 2020 election has been a rollercoaster. Now that we are 1 day away from the presidential election 2020, what will the aftermath be if either candidate wins? How much will the taxes be raised under Joe Biden for business owners and real estate investors? How will Donald Trump handle the fallout of the pandemic and get our economy back on track on top of dealing with the expiring eviction moratorium? Time will only tell but what I can tell you is that if Joe Biden is elected, it does not look good for people who are business owners and real estate investors. Joe Biden is looking to get rid of a lot of different programs that currently benefit real estate investors. Joe Biden’s tax plan would also raise corporate taxes. With the abolishment of the 1031 exchange and the step-up basis for selling inherited property, will that deter people from becoming real estate investors? Joe Biden’s tax plan may look good to those people who work a regular 9-5 job and I am not saying that I want the W2 workers in the country to not benefit from his tax plans, I am just curious to what the ramifications of Joe Biden’s tax policies. Will it hurt the housing market and the economy? Will there be affordable housing for those W2 workers that are provided by real estate investors? On the flip side, we have already seen what Donald Trump’s tax policies have done for the past 4 years, but he has a whole other set of problems to deal with. Like getting the economy kickstarted, but how can Donald Trump do that safely? This is an issue that both presidential candidates will have to deal with, but it’s more of an uphill battle for Donald Trump because he is actively pushing to get the economy going again and coming up with a solution for the housing crisis for both tenants and landlords. It should be an interesting few days with the election tomorrow. Stick around for more updates and thanks for watching!
October 27, 2020

Housing Market Update: What happens if Joe Biden Wins?

What would happen to the housing market if Joe Biden wins the 2020 presidential election? Well in this video I break down a few things that Joe Biden would do if he were to win the 2020 presidential election. Now I recently made a video talking about what happens to the housing market during presidential elections. You can find that video here https://www.youtube.com/watch?v=9BscbOjM9gY&t=209s. But in this video I am going to break down what a housing market will look like under a Joe Biden presidency. I am going to break down how Joe Biden’s tax plan will influence real estate prices, real estate taxes, and what will happen to those who inherit your home eventually and what that will look like. So I know that I have been talking about a housing market crash in all of these videos I have been producing lately. Well, I still feel like this will happen BUT there is a difference between a Donald Trump Presidency and a Joe Biden Presidency during the housing market crash in 2021. BUT remember the President does NOT have as much influence over the housing market as many believe. And even if the President uses his executive powers to implement something in the housing market, it would still take a significant amount of time to see the effects of it, in the housing market. With that being said, there is ONE major thing that will influence the housing market, indefinitely, and that is tax policies of both candidates. As far as Joe Biden’s tax policies, you will not likely see a huge change for people who are non-investors, BUT the one’s who will be effected the most are the real estate investors. The first of those policies is the reversal of the step-up and that will effect the capital gains tax…..significantly. Currently the capital gains tax is maxed out at 25%.
October 14, 2020

Biden Tax Plan Vs Trump Tax Plan: Explained Simply

A very VERY important topic for everyone in this year’s election is the Biden tax plan vs Trump tax plan. In this video, I am going to breakdown what Joe Biden will implement in regards to his tax plan and I also talk about what Trump will be changing if he get’s reelected during this year’s presidential election. Now, I have tried, to the best of my ability to provide both Biden’s Tax Plan and Trump’s Tax Plan, with just the plain facts, no bias, and I want to show you whos tax plan will benefit the American people the most. The Biden Tax Plan has definite increases in comparison to the existing Trump Tax Plans, including changing existing policies in the real estate investing realm, which would effect a lot of our business and the business of our audience. So check out what I found in the Biden Tax Plan vs Trump Tax Plan video! https://taxfoundation.org/joe-biden-tax-plan-2020/ Joe Biden’s Tax Plan shows an increase in taxes in several different arenas. Now the key number for Joe Biden’s Tax Plan is $400,000 and this number seems to be the benchmark for a lot of Joe Biden’s Tax Plans. For instance a 12.4% tax will be imposed on social security income over $400k. Additionally anyone making over $400k as an individual tax payer, will pay 39.6% on income instead of the current 37%. The child tax credit will increase to $3000 for children 17 and under, while introducing an additional $600 credit for children 6 and under. Also under Joe Biden’s Tax Plan, first time homebuyers’ would provide $15,000 for first time home buyers. The corporate tax rate under Joe Biden’s Tax Plan will increase to 28% from 21% it’s currently at now. Also within the Joe Biden’s corporate tax plan, small businesses will receive a credit if a retirement plan is implemented. Now, Donald Trump’s Tax Plan has not changed very much, but the President is looking to introduce some new ideas for his Tax Plan. This year there was a tax deferral on payroll taxes within the stimulus packages. As part of Donald Trump’s Tax Plan, he is looking to forgive all those payroll taxes that were deferred this year. Secondly, President Trump is looking to cut Capital Gains Tax down to 15% from the current Capital Gains Tax rate of 20%. This would encourage many Americans to get into investing and other money making avenues and a lower capital gains tax rate would help encourage that. Another thing that Trump’s Tax Plan would do would cut taxes on the Middle Class. The Middle Class is the biggest group of tax payers in the US, doing this would surely impact the economy as spending would go up from the biggest class in America. I hope you enjoyed this breakdown of each tax plan!