The potential tax deferral benefits of Opportunity Zones for capital gains from the disposition of commercial real estate as an alternative to Section 1031 exchanges has been a recurring topic in this blog ever since that program was passed into law by Congress with the Tax Cuts and Jobs Act in late 2017. Since adoption of that tax plan, its details have been fleshed out in … [Read more...] about IRS relaxes Opportunity Zone requirements and other rules in response to COVID-19
The California Association of Realtors (“CAR”) is one of the largest professional groups in the United States, numbering over 200,000 members. As one of the most influential organizations in the field of real estate, it plays a major role in policymaking questions affecting real estate matters and other industry issues in the Golden State and around the country. In light of … [Read more...] about California Association of Realtors highlights new legislation affecting real estate in 2020
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
Virtually hidden among the more controversial provisions of the Tax Cut and Jobs Act adopted late last year, Opportunity Zones, which are intended to promote economic activity in lower-income areas by giving preferential tax treatment to investors, are starting to attract attention from both the financial industry and the public interest sector. This program allows capital … [Read more...] about Will Opportunity Zones under the Tax Cut and Jobs Act enhance prospects for real estate investment and community development?