|
|
Article: Industry may not benefit from proposed tax bills. (real estate industry)
- Article from:
- Real Estate Weekly
- Article date:
- October 2, 1991
CopyrightCOPYRIGHT 1991 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Philip J. Wiesner, national director of Real Estate Tax Services for KPMG Peat Marwick's National Real Estate Practice, said that passage of tax provisions that would help the real estate industry are "uncertain at this point, particularly because of concerns over the budget deficit and that the proposed changes would cause revenue shortfalls."
Wiesner cited one proposal that would allow real estate entrepreneurs to offset rental real estate losses against non-rental real estate income as a good example. "While this change is clearly meritorious, there is a great deal of hesitancy on the part of Congress to enact changes that would cause federal revenues to ...