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Tax Planning › Like Kind Exchanges › Real Estate Transactions

Rivkin Radler LLP

Drop & Swap Like-Kind Exchange Passes Muster in New York

Rivkin Radler LLP on

New York’s personal income tax law, like that of other states, conforms with the federal system of income taxation. The reason typically given for such conformity is to simplify tax return preparation, improve compliance and...more

Greenberg Glusker LLP

Los Angeles "Mansion Tax" - Measure ULA, Its Impact on Property Owners, & Refunds

Greenberg Glusker LLP on

In November 2022, Measure ULA, commonly known as the "Mansion Tax," was passed into law by the City of Los Angeles voters. This tax applies to all categories of real estate, including commercial, industrial, and residential...more

Lowndes

As Tax Filing Deadline Approaches, Avoid This Trap for the Unwary If You Have an Open 1031 Exchange

Lowndes on

In the senior living area, a taxpayer that is selling a community may look to avoid recognizing gain on the sale by entering into a Section 1031 like-kind exchange with respect to the real estate. The tax rules generally...more

Polsinelli

Additional Guidance Issued for President Biden’s American Jobs and American Families Plan

Polsinelli on

In April 2021, President Biden announced the “American Families Plan,” which included some significant tax law changes. Among the proposed changes included in the “American Families Plan” was the increase of the tax rate that...more

Lowndes

Have an Open Like-Kind Exchange? Don’t Fall Into This Trap

Lowndes on

A common tax planning tool for real estate transactions is to engage in a like-kind exchange of real estate.  If structured properly, a taxpayer can sell real property (the relinquished property) and replace it with new...more

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