“This could possibly all come crashing down and create a real estate disaster. Real Estate millionaires don’t need or want two trillion dollars in additional tax deductions that would prohibit lowering income tax rates for the middle class,” said Mr. Gonzalez
West Palm Beach, Florida (PRWEB)
September 27, 2017
YourVoice America featured tax reform expert, Julio Gonzalez’s thoughts on the September 15th broadcast. Mr. Gonzalez travels back and forth from South Florida to Washington, D.C. weekly to work on the tax reform blueprint. Bill Mitchell, Host of YourVoice America, calls Mr. Gonzalez “one of the top tax minds today.”
“We just had an interview with Julio Gonzalez, who is one of the top tax minds today, owns one of the biggest specialty tax engineering firms in America, saves his clients millions of dollars a month in taxes, and what he’s saying is that Speaker of the House, Paul Ryan, and his cohorts are trying to do is create a situation where ‘right now if you own real estate as a business’ that you can depreciate that over 39 years,” said Mr. Mitchell. He went on to say that you can also write off the interest deduction on that loan.
“What Paul Ryan wants to do is, instead of making it over 39 years, he wants ‘you’ to be able to write off that real estate asset completely in the first year,” said Mr. Mitchell.
Mr. Gonzalez inferred that if this happens, there will be entire cities developed as see-through buildings with nothing in them. People will be incentivized to borrow large amounts of money to build real estate tax shelters that can be immediately expensed. This will be worse the 1980s tax reform that created the S&L crisis. “This could possibly all come crashing down and create a real estate disaster. Real Estate millionaires don’t need or want two trillion dollars in additional tax deductions that would prohibit lowering income tax rates for the middle class,” said Mr. Gonzalez – as relayed by Mr. Mitchell.
Julio Gonzalez, Tax Reform Expert
Mr. Gonzalez works weekly in Washington D.C. to advise on the tax reform blueprint, and he is the go-to tax expert representing Hispanic 100, Hispanic Council, and family offices. He is a regular public speaker on a national level regarding tax reform and tax sophistication…