NEW STIMULUS has pumped over 4 TRILLION dollars of money into the economy. The government is simply printing and giving out money. And with all that money, comes a question. Will there be new taxes to pay for the New Stimulus deficit. The current Federal Government runs on a new deficit of $1 trillion dollars a year. This year alone, the Government is on a $4 trillion dollar deficit and we're not even close to October (the end of Fiscal Year). This raises concerns obviously... Will there be new taxes? Will there be inflation? Will there be a recession? With that being said, what are the possible taxes that could be raised because of the New Stimulus Programs? Let's go ahead and discuss them in this video! As always, my landlords watching this video, I got something special for you as well! 1.) Corporate Income Tax - As part of the Jobs Act in 2017, the corporate income tax rate went from 35% to 21% which encouraged many companies to come back to the United States. However, with the deficit, Congress may amend the Jobs Act to repeal the corporate tax rate back to 35% which is estimated to add a Trillion Dollars of revenue. However, this has a negative effect on the economy because larger companies could potentially move out of the United States and take jobs with them. This causes the tax base to decrease which means that fewer people will have jobs thus fewer people paying their taxes. To explain this in a different way, the more people are employed... the more people paying taxes, and therefore, more volume of tax in general. 2.) County Property Taxes Individual counties and states may mandate a tax hike on the property taxes which directly impact your local community. But the problem with this hike is that this is to simply reimburse the loss on the individual states and counties from the pandemic. For my landlords listening to this, this is certainly bad news. And when it comes to apartment building valuation, there may be a drop in terms of the value since apartment valuation is based on the net income that the apartment generates. Assuming that the rent income is the same but the expenses go up, the value of the apartment can drop. 3.) State Taxes States may impose additional taxes or increase the individual tax rates to recoup the losses. States that already have high-income tax rates may feel the squeeze right now. My home state of Illinois is definitely feeling this crunch as we've been dealing with population decline and the state has high expenditures. 😃 Thanks for Subscribing & Liking our Video! The Kwak Brothers are millennial real estate investors who have acquired over 82 Units of Rental Units and have raised over $20,000,000 of capital for their real estate deals. They are based out of the Chicago-land area and they are dedicated to helping hard-working people become financially free real estate investor! They specialize in owner financing acquisition and raising capital. They are the creator of the FORCE Strategy (Find the deal, Owner Finance It, Raise the Capital, Cashflow It, and Expand your Financial Freedom) 📧 Get Our 1:1 Real Estate Coaching and Mentoring: https://thekwakbrothers.com/thekwakbrothers 💻 GET OUR FREE COURSES, FORUM, AND EVENTS: https://www.cashflowcolony.com ⌨️ FREE 7 Day Trial To PropStream Real Estate Investing Software: http://reisoftware.thekwakbrothers.com 📊 GET OUR FREE HELOC STRATEGY CALCULATOR & EBOOK: https://bit.ly/2WZUPpm 📋 SIGN UP FOR OUR FREE OWNER FINANCING COURSE: https://freeownerfinancingcourse.com 💻 JOIN OUR FREE FACEBOOK GROUP FOR LANDLORDS & PASSIVE INCOME: https://www.facebook.com/groups/bestreigroup 🔊 Our Podcast Channels: 📻First Deal Experience: 🔹Spotify: https://open.spotify.com/show/7pnHJSNl7vPVFzq69IzC6B 🔹iTunes: https://podcasts.apple.com/us/podcast/first-deal-experience/id1282240923 📻Landlording Automated: 🔹Spotify: https://open.spotify.com/show/1LTAeRg2ZAT1ATI1mdtWM0 🔹iTunes: https://podcasts.apple.com/us/podcast/landlording-automated-podcast/id1504548975 GET SOCIAL WITH US: 📣Facebook: https://www.facebook.com/thekwakbrothers/ 📣Instagram: https://www.instagram.com/thekwakbrothers/ 📧 Hire the Kwak Brothers to Speak: info@thekwakbrothers.com #realestateinvesting #thekwakbrothers #realestate ======================== ---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.