The U.S. Department of Housing and Urban Development (HUD) sponsors a broad range of programs designed to revitalize urban neighborhoods, stimulate housing construction, encourage home ownership opportunities, and provide safe and affordable housing primarily for low-income families. HUD...
Read MoreClassifying and reporting income and losses related to a land rent, such as a flat-surface parking lot, can be more difficult than you might think. Many complexities of the tax law come into play and will depend on your specific situation, namely on if you operate the parking lot as a business or...
Read MoreWhen paying the property tax bill, it usually makes sense for the tenant to be responsible for appealing a property tax assessment. But that’s not always the best move. Leaving an appeal to your tenant could result in unintended legal and financial consequences. Pros and ConsWhen you...
Read MoreOn October 5, 2016, the IRS issued final, temporary and proposed regulations on partnership disguised sales and allocation of liabilities. Under these regulations (and consistent with the prior regulations), when a partner contributes property to a partnership and receives a distribution within...
Read MoreOver the years we have seen companies, many of whom operate in real estate, purchase debt in the secondary market often significantly below the principal amount owed. The goal is to collect the price paid for the debt as well as a substantial portion of its original principal amount...
Read MoreAppraisers are increasingly incorporating trend analysis when valuing real estate. Property owners, as well as potential buyers, need to understand the role trend analysis (also known as market analysis) can play when determining value. Trend AnalysisWhich amenities and characteristics...
Read MoreIt’s imperative that landlords and tenants know the tax ramifications — for better or worse — of the language that’s built into their lease and ancillary agreements. And it’s just as important to be aware of tax-impacting items not found in any written agreement...
Read MoreIf you buy property with environmental issues, you may be liable — even if you weren’t responsible for the presence of contaminants. To best protect yourself, be sure to include environmental review as part of your due diligence.Why Conduct Environmental Due DiligenceThe most obvious...
Read MoreIf you own property and a business, there’s an obvious temptation to lease that property to the business. But be careful — you risk triggering the self-rental rule and catching the eye of the IRS. One creative couple tried to get around this by using an S corporation to lease their...
Read MoreTargeted capital allocations are becoming standard in new LLC or partnership operating agreements. Historically, operating agreements typically provided for income/loss allocations to the partners based on the safe harbor provided under IRC Regulation 1.704-1(b)(2). This was more of a “cash...
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