Are you leaving money behind on your tax return?

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You’re likely familiar with the federal tax reform law enacted in 2017. After all, it reduced tax rates for businesses and individuals, increased the standard deduction and family tax credits, and limited deductions for state and local income taxes and property taxes, among other things.

However, you may not be familiar with a particular provision of that law, and related IRS guidance, that provides an opportunity specific to rental real estate businesses.

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