The Mann Report quoted Tax Partner Kurt Koegl in an article about the American Families Plan and its impact on commercial real estate.

Excerpt:

“The change on the top rate to 39.6% and the elimination of the capital gains rate for families making over $1 million may further exacerbate the real estate industry,” said Kurt Koegl, a partner at Marcum LLP. “Small real estate investors may only make a hundred thousand per year in rental, management or fee income. However, in the year of a property sale, that income may spike over $1 million proposed capital gain phase-out cap, making the entire amount of gain on the sale of the property subject to the highest ordinary rate. This would significantly reduce the after-tax return to the owner of the property.”

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