Real property-related tax questions have long been a mainstay of this blog. Since being passed into law in late 2017, the Tax Cuts and Jobs Act and its sections relating to investment in commercial real estate have regularly appeared in my posts. The establishment of tax-advantaged Opportunity Zones and the clarifications of the regulations governing those investments, among … [Read more...] about IRS issues final safe harbor rules for rental real estate owners to take the 20% qualified business income deduction under Section 199A
Section 1031 tax-deferred exchanges and their intricacies have been a substantial aspect of my law practice for many years, and are a regular feature in my blog. Given the large number of commercial property transactions in the San Francisco Bay Area involving highly appreciated real estate, it is hardly a surprise that I have spent a significant portion of my legal career … [Read more...] about “Sham” workarounds after failed Section 1031 exchanges may expose qualified intermediaries to penalties under new FTB guidance
In my last blog post, I wrote about AB 1482, the statewide rent control bill adopted by the California legislature, which Governor Gavin Newsom has just signed. Awaiting action by Newsom momentarily is the Housing Crisis Act of 2019 (SB 330), a measure intended to promote California housing construction by suspending certain local limitations on housing construction. While … [Read more...] about Can SB 330, the Housing Crisis Act of 2019, succeed in lowering barriers to residential development in California?
It seems as though I was just writing about California’s critical, protracted shortage of housing a couple of weeks ago. And it also seems that, whenever this problem gets brought up, the debatable response of rent control rises to the surface close behind, as I have noted in this blog for some time now. Here in Silicon Valley, for example, where there has been a longstanding … [Read more...] about AB 1482, California’s statewide rent control bill, passes the state legislature and now awaits action by Governor Newsom
For better or worse, the acute, chronic lack of housing in the Golden State is once again the focus of attention. An analysis published recently by U.C. Berkeley’s Terner Center for Housing Innovation shows that restrictive local zoning has inhibited the development of high-density housing projects in California. This report concludes that, notwithstanding market pressures … [Read more...] about State housing policies conflict with those of Los Altos and other cities as the struggle to solve California’s housing crisis moves to the courts