News & Analysis as of September 18, 2024

Income Taxes › Investment Property

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Swapping Foreign Real Properties On a Tax Deferred Basis

Rivkin Radler LLP on 7/26/2024

Over the last couple of years, several of my friends have become citizens of the country from which their parents emigrated to the U.S. Also during that period, some acquaintances took advantage of the so-called “golden...more

Pennsylvania Enacts Record Tax Reform

Cozen O'Connor on 7/27/2022

Pennsylvania’s 2022-2023 budget, Act of Jul. 8, 2022, P.L. __. No. 53 (Act 2022-53) (HB 1342) implements sweeping tax reform and revises some of Pennsylvania’s most business-unfriendly tax provisions. The bill will:.....more

“Earth To Earth”: Real Estate, Death And Biden’s Tax Proposals

Rivkin Radler LLP on 5/11/2021

Go After Real Estate? During the 2020 presidential campaign, there was one segment of the “rich” for which then-candidate Biden seemed to have reserved some of his harshest criticism – wealthy real estate investors....more

Investment Property Exception to $10,000 Cap on Itemized Deduction for State and Local Property Taxes?

Mitchell, Williams, Selig, Gates & Woodyard,... on 11/15/2019

As it relates to individuals, one of the more controversial aspects of the 2017 revenue act (commonly referred to as the “Tax Cuts and Jobs Act") is the $10,000 cap on itemized deductions for state and local taxes. ...more

The Cost of Clarity: IRS Issues Regulations Addressing Proper Treatment of Code Section 50(d) Income

Williams Mullen on 7/29/2016

On July 21, 2016, the IRS issued long-awaited regulations under Section 50 of the Internal Revenue Code (the “Code”) clarifying the manner in which “Section 50(d) Income” is to be recognized in lease pass-through investment...more

IRS Issues Proposed Rules on Income Inclusion under Section 50(d)(5)

Foley & Lardner LLP on 7/29/2016

The IRS just published long-awaited temporary regulations under section 1.50-1T governing the section 50(d)(5) income inclusion rules. These rules apply to lessees of investment credit property when the lessor elects to treat...more

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