Category: Real Estate

Real Estate

Tax Implications of Florida’s 2019 Legislative Session by Karen A. Lake, CPA


Posted on June 19, 2019 by Karen Lake

The Florida legislature recently passed a $91.1 billion budget for 2019 that provides some significant wins for individuals and business taxpayers located in the state while failing to address the remote and online sales tax collection issue created by the Supreme Court’s June 2018 decision in South Dakota v. Wayfair. Here are the details. Reduced […]

What’s New for Opportunity Zone Investors in 2019? by Arkadiy (Eric) Green, CPA


Posted on May 14, 2019 by Eric Green

  The IRS recently issued a highly expected, second set of proposed regulations on the Opportunity Zone program intended to help more investors, developers, business owners and underserved communities across the U.S. begin working together to maximize the intended benefits of this program. Congress established the Opportunity Zone program at the end of 2017, as […]

Reaping Financial Benefits of Residency in Low-Tax States is More Difficult than it Appears by Michael Hirsch, JD, LLM


Posted on February 25, 2019 by Michael Hirsch

The Tax Cuts and Jobs Act and the new $10,000 cap on the deduction for state and local taxes (SALT) have caused many wealthy families in high-tax states to consider moving to more tax-friendly jurisdictions, such as Florida, where they can avoid the imposition of a state-level personal income tax. However, the rules for establishing […]

Florida Reduces State Sales Tax on Commercial Real Estate Leases for 2019 by Karen A. Lake, CPA


Posted on January 15, 2019 by Karen Lake

Effective Jan. 1, 2019, Florida’s sales tax rate on the total rent that commercial real estate owners charge and receive from tenants is 5.7 percent, a decrease from 5.8 percent in 2018, and 6.0 percent in 2017.  Real property rentals subject to the reduced rate include commercial office space, retail, warehouses and certain self-storage units, excluding storage […]

Property Owners Can Expedite the Recovery of More Capital Improvement Expenses UPDATED with Tax Reform News by John G. Ebenger, CPA


Posted on January 11, 2018 by John Ebenger

The Internal Revenue Code permits owners of business- and income-producing real estate to deduct from their taxable income an allowance for the wear and tear, deterioration or obsolescence of property over time. In addition, some businesses have been able to accelerate depreciation deductions to more quickly recover the cost and other basis of certain capital […]

How Can Real Estate Businesses Prepare for the New Model of Revenue Recognition? by Robert C. Aldir, CPA


Posted on November 10, 2017 by Robert Aldir

The new model for how businesses across all industries will need to recognize revenue from customer contracts in 2018 for public companies and in 2019 for nonpublic companies is a game changer. While privately held companies have an additional year to come into compliance, they must begin preparations now to account for the substantial changes […]

Tax Benefits when Selling a Home by Nancy Valdes, CPA


Posted on November 02, 2017

According to the National Association of Realtors, a lack of inventory has helped to buoy buyer demand and sales prices for existing homes during the summer of 2017. As the median prices for condominiums and single-family homes continue to appreciate, homeowners who decide to put their houses on the market now can potentially reap substantial […]