Regular readers of this blog may remember that I have posted here occasionally about the Opportunity Zone program since it was enacted into law as a part of the Tax Cuts and Jobs Act in December of 2017. As the government has published proposed regulations implementing this legislation since then, I have been reporting on that guidance. Given the complexity of this method of … [Read more...] about Final Opportunity Zone regulations released
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California goes all in to limit local opposition to ADUs
Entering a new decade, California is primed to implement several bills signed into law at the end of 2019 that seem poised to turbocharge the trend of making accessory dwelling units (“ADUs”) less expensive, easier to get approved, and much more common in the Golden State. Despite these salutary efforts, however, obstacles to the successful implementation of these laws still … [Read more...] about California goes all in to limit local opposition to ADUs
Housing crisis-inspired policy goals now at loggerheads in Palo Alto
Once again, the chronic and acute shortage of housing in California takes center stage in this week’s blog, as has happened so many times over the past several years. This time, the spotlight is on Palo Alto, whose debates over development have also previously been featured here. The controversy at hand involves the tension between the development of additional market rate … [Read more...] about Housing crisis-inspired policy goals now at loggerheads in Palo Alto
IRS issues final safe harbor rules for rental real estate owners to take the 20% qualified business income deduction under Section 199A
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
“Sham” workarounds after failed Section 1031 exchanges may expose qualified intermediaries to penalties under new FTB guidance
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