Category: Real Estate

Real Estate

Real Estate Webinar Slides


Posted on April 30, 2020

Here are the slides from our webinar held on April 30, 2020.   Real Estate Webinar Slides April 2020

Have You Suffered Any Losses Due to COVID-19? Some 2020 Losses May Be Deductible in 2019 by Arthur J. Lieberman


Posted on April 27, 2020 by Art Lieberman

The COVID-19 crisis has caused major economic hardship for many companies, making it imperative for businesses of all kinds to increase cash flow to ensure survival. Taxpayers should not overlook the potential to reduce 2019 taxes and/or generate refunds of taxes previously paid from 2014 through 2018 by making an election to deduct eligible 2020 […]

IRS Provides Limited Relief for Taxpayers in the Midst of 1031 Exchanges by Arkadiy (Eric) Green, CPA


Posted on April 27, 2020 by Eric Green

Investors and other taxpayers involved in Section 1031 tax-deferred exchanges during the COVID-19 pandemic may now have additional time to identify and/or close on replacement property without losing the preferential tax treatment afforded by these transactions. Section 1031 of the Internal Revenue Code allows real estate investors to defer recognition of capital gains on the […]

UPDATED – Some Opportunity Zone Investment Deadlines Extended by Federally Declared Disaster for COVID-19 by Arthur J. Lieberman


Posted on April 09, 2020 by Art Lieberman

The COVID-19 pandemic has brought a variety of commercial transactions to a screeching halt. For businesses and investors involved in the Qualified Opportunity Zone (QOZ) program, this temporary pause can delay their ability to meet the program’s statutory time constraints, which may expose them to excise-tax penalties. However, relief from some deadlines currently is available […]

COVID-19 CARES Act Provides Significant Benefits to Property Owners and Others That Invest Capital in Commercial Real Estate Improvements by Angie Adames, CPA


Posted on April 01, 2020 by Angie Adames

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) grants a 15-year depreciation period to qualified improvement property (QIP), making it eligible to bonus depreciation. With this legislation, businesses with commercial real estate holdings may immediately write-off expenses incurred to improve the interiors of non-residential buildings rather than depreciating those costs over 39 years. This […]

IRS Extends Federal Tax Filing, Payment Deadlines to July 15 by Steven G. Messing, JD, CPA


Posted on March 24, 2020 by Steve Messing

In response to COVID-19 and its impact on U.S. taxpayers, the IRS officially postponed the 2019 federal income tax filing and payment deadlines from April 15, 2020, to July 15, 2020. These automatic filing and payment extensions apply to all individual taxpayers (including the self-employed), trusts and estates, C corporations, partnerships, limited liability companies (LLCs) and other […]

IRS Finalizes Rules for Opportunity Zone Investments by Arkadiy (Eric) Green


Posted on February 20, 2020 by Eric Green

The IRS issued final regulations on the Qualified Opportunity Zone (QOZ) program at the end of 2019, two years after Congress introduced it as part of the Tax Cuts and Jobs Act (TCJA). While the final regulations are generally taxpayer favorable and clarify many unanswered questions about the new tax-saving program, they do not make […]

The Immediate Impact of 754 Elections When Selling, Buying or Liquidating Partnership Interest by John G. Ebenger, CPA


Posted on February 04, 2020 by John Ebenger

The sale, exchange or liquidation of partnership interest in appreciated property, such as real estate, is a common occurrence among partners and members of partnerships and LLCs taxed as partnerships. Whether due to disagreements among the partners, the death or divorce of a partner, or the addition of new partners, these transactions can result in […]

Treasury Continues to Target U.S. Real Estate Transactions by Ken Vitek, CPA


Posted on December 05, 2019 by Ken Vitek

In November 2019, the Financial Crimes Enforcement Network (FinCEN) strengthened its efforts to combat money laundering by reissuing its Geographic Targeting Order (GTO) program for U.S. real estate transactions. Under the renewed GTO, which is extended through May 9, 2020, title insurance companies must collect and report the identities of certain beneficial owners behind holding companies and legal […]