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>There is no business tax if you buy a house and rent it Rental properties pay property tax whether or not the business is profitable, and if the business is p
by ChrisLomont 6y ago
>There is no business tax if you buy a house and rent it
Rental properties pay property tax whether or not the business is profitable, and if the business is profitable, then the profits are also taxed.
- aurizon 6y agoChrisLomont. You miss the point. Real Estate taxes to the city PLUS Business taxes to the city PLUS taxes on profits to the IRS and some states. The object is to create a lower tax regime for those that buy and live there, to in time drive out rent seekers. As it is large numbers of properties are bought and banked into short term rentals, BNB etc. City rules are easy to evade via careful client vetting. These people want to defeate the laws of supply demand via such artificial shortages.