SPECIAL TAX ALLOWANCE FOR RENTAL REAL ESTATE ACTIVITIES
Wednesday, November 29
POSTED BY SIMON FILIP ON If a taxpayer fails to qualify as a real estate professional, losses from rental activities may still be deductible. While real estate professionals are afforded beneficial tax treatment enabling them to deduct losses from their real estate activities, real estate non...
HOW YOUR 1031 EXCHANGE CAN BENEFIT FROM A “ZERO” DEAL
Tuesday, October 17
In previous blog posts I’ve discussed benefits of entering into a 1031 exchange. Also known as a like-kind or tax deferred exchange, a 1031 exchange affords significant tax benefits to property owners.Specifically, a 1031 exchange allows a taxpayer to sell an investment property and reinvest in r...
What You Ought To Know About Affordable Housing
Tuesday, October 17
The federal government used to build its own public housing. However, the government banned public housing construction in 1968 and began demolishing many of its buildings in the 1990s.While the direct construction went away, the need for new units did not. The National Low Income Housing Coaliti...
WHAT YOU OUGHT TO KNOW ABOUT AFFORDABLE HOUSING
Tuesday, October 17
The federal government used to build its own public housing. However, the government banned public housing construction in 1968 and began demolishing many of its buildings in the 1990s.While the direct construction went away, the need for new units did not. The National Low Income Housing Coaliti...
WHAT IS THE NEW GAAP LEASE ACCOUNTING STANDARD?
Thursday, August 31
In February 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standard Update (“ASU”), ASU 2016-02, Leases (Topic 842).For public companies, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018. For all other entities, this update is effective for f...
INCOME TAX INCENTIVES FOR LAND CONSERVATION
Thursday, August 31
Conservation easements have been receiving increased press and scrutiny from the IRS, which is cracking down on easement donation abuse by tax shelter promoters.At its very basis, conservation easements are meant to further the public good by encouraging taxpayers to donate property rights to org...