The phasing out of the Bush administration's tax cuts, changes in reporting of 1099 income, and tax increases related to the health care bill are just around the corner. Will these have a negative effect on the fledgling real estate recovery? Regardless of where you stand politically, there are big changes coming that can have a significant impact on the real estate industry. The biggest challenge is that thousands of pages of legislation have been signed into law, but the rules and regulations that determine how the law is administered are still being written. As a result, it's very hard for anyone to know exactly what to expect until the rules and regulations are published. For example, the health care bill changes how "miscellaneous income" is reported. The original b...
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