Millions of Americans who lost their jobs during the pandemic have fallen thousands of dollars behind on rent and utility bills. In one of President Joe Biden’s first official acts after his inauguration, he extended the federal ban on evictions through March.
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One of the major benefits of commercial multifamily investment is that, under IRS rules, property owners and investors are entitled to “depreciate” the value of their asset each year, which reduces the property’s taxable income and the associated tax liability.