The National Association of REALTORS® (NAR) worked throughout the tax reform process to preserve a number of existing tax benefits of homeownership and real estate investment, as well to ensure as many real estate professionals as possible would benefit from proposed tax cuts.
To best understand how the new 20 percent income deduction works, two tax pros explain how the new tax reform law impacts members' treatment of business income; the law also creates a 20 percent business income deduction that members can take as independent contractors
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, along with much more information. Source: NAR