Property News · November 13, 2017

US government tax plan no worry for property buyers in upscale Hamptons area


Out in the Hamptons, the US beach resort on Long Island favoured by Wall Street’s denizens, brokers and buyers already have a workaround for a tax-plan provision under consideration in Congress that would take away mortgage-interest deductions for second homes.
A client of Brown Harris Stevens broker Jessica von Hagn who works at a hedge fund decided to turn the holiday home he is buying into an investment property by setting up a limited liability company. That will allow him to deduct…

Source : South China Morning Post
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