At the end of January, the House passed legislation that would extend some of the provisions of Trump’s 2017 tax bill and expand the Child Tax Credit (CTC), along with other tax reform measures. 

If passed by the Senate and signed into law by President Biden, the Tax Relief for American Families and Workers Act of 2024 would allow real estate investors to continue to claim 100% bonus depreciation, elect to expense depreciable business assets up to an increased limit, and potentially deduct business interest up to a higher limit. The Act would also restore domestic research or experimental costs expensing. 

Learn more about your ad choices. Visit megaphone.fm/adchoices