Hurricane Disaster "GO" Zone
Can we have a forum on the GO zone?
In the wake of Hurricane Katrina, Congress passed legislation that allows real estate investors to get a bonanza of a 50% depreciation in the first year of ownership on rental property they buy in selected counties. This substantial depreciation could be enough for many investors to dramatically reduce or even stop paying taxes.
After the first year, typical straight-line depreciation takes over.
To benefit from this accelerated depreciation, Investors need not reside in the GO zone. They can live anywhere.
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