News & Analysis as of

Rental Income

ATO Taxpayer Alert: Concerns about Certain Stapled Groups

by K&L Gates LLP on

In Taxpayer Alert TA 2017/1, the Australian Tax Office (ATO) has announced that it will be targeting arrangements which fragment integrated trading businesses, with particular emphasis on the inappropriate use of stapled...more

A Condemnation Action is Looming — What are a Landlord’s Disclosure Obligations to Potential Lessees?

by Nossaman LLP on

Before an eminent domain action is filed, public infrastructure projects involve years of planning, environmental approvals, design, and property negotiations. During this time, property owners and real estate agents/brokers...more

Tax Implications For Real Property Leasing

by Morgan Lewis on

Reforms to China’s value-added tax raise issues that landlords should consider when designing leasing structures and negotiating rental terms. On May 1, 2016, China’s value-added tax (VAT) replaced the business tax in...more

Unauthorized Transfers of Receivership Property: Void, Voidable or Ok?

by Ervin Cohen & Jessup LLP on

Question: Unauthorized Transfers of Receivership Property: Void, Voidable or Ok? Answer: In a recent unpublished bankruptcy appellate panel decision (In Re Domum Locis, LLC, 2015 WL 4697747 (9th Cir. BAP 2015)), the BAP...more

Withholding Agents–Obligation to Withhold On Payments to Foreign Persons When Source of Payment Uncertain

by Charles (Chuck) Rubin on

In recent guidance to auditors, the IRS discusses what happens when a payor withholding agent pays items to a foreign payee when the withholding agent is uncertain whether the payment is U.S. source....more

Pennsylvania Property Tax Reassessment Update

by Reed Smith on

Several counties in Pennsylvania are conducting countywide property reassessments. This update provides status changes for Washington, Blair and Lancaster Counties, along with a set of important deadlines and basic assessment...more

Bill to Tax Vacation Home Rentals Is Alive but Not Quite Kicking

by PretiFlaherty on

Attention, Massachusetts vacation home owners who earn money renting your properties! An Act Providing for Local Aid Enhancement is showing signs of kinetic energy....more

Unusual Area Of Law For The NC Business Court: Life Estate In A Beach House

by Brooks Pierce on

When Governor McCrory appointed Judge Gregory McGuire to the Business Court, I doubt that he had any concern whether Judge McGuire had any expertise in the area of trusts and estates. After all, that area of law is not...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update: July 2015

by Reed Smith on

This is a brief update on recent Pennsylvania tax developments. Amended Return “Trap”—Court Holds That Amended Return Was Not a Petition for Refund; Possible Legislative Fix? - On June 9, the Commonwealth Court issued a...more

Considering converting your vacation home to a rental property, seriously?

Many people have vacation homes they’ve purchased over the years but don’t use often because life gets in the way. So what do you do when someone suggests converting that unused vacation home into a rental property that gives...more

Insurance Alert: Insurer Delay Extends Time to Repair or Replace Damaged Property

In Stephens & Stephens XII v. Fireman's Fund Ins. (No. A135938, filed November 24, 2014), the plaintiffs obtained property insurance on a warehouse. Within a month, it was discovered to be stripped of all wiring and metal....more

Taxpayer Victory Helps Trusts Holding Business and Real Estate Avoid Tax

by McDermott Will & Emery on

One of the most vexing tax issues remaining unresolved since the 1986 enactment of the passive loss (PAL) rules is whether business or rental income earned by a trust can be active income and whether business or rental losses...more

Real World - Spring 2013: Break clauses - tenants should err on the side of caution

by Dechert LLP on

With the outlook for the UK economy still rather patchy at best, it is not surprising that tenants have in recent times been looking closely at their lease terms and, in particular, any break rights that they may have, with a...more

Part-Time Landlords That Work Full Time Will Have A Hard Time Qualifying As Real Estate Professionals

by Charles (Chuck) Rubin on

Taxpayers that own rental real estate property will often want to qualify as “real estate professionals” under Section 469 (the “passive loss rules”). If they do that, their losses from their real estate activities can be...more

What’s A Cell Tower Lease Worth?

by Varnum LLP on

People with cell towers on their property are frequently contacted by companies offering to "buy-out" their cell tower lease. The resulting question we get is "What's my cell tower lease worth?" This post will attempt to...more

Bulk Buys of Foreclosures in Florida for Rental Investment Properties: More and More Investors Becoming Landlords in Florida,...

by Rosa Eckstein Schechter on

In yesterday's Sun Sentinel, Paul Owers wrote an interesting piece, "Florida foreclosures big business for investment firms," and if you delved into the article, you'd discover that the business these investment firms are...more

Real Estate Professionals Navigating The New 3.8% Medicare Tax

by Bilzin Sumberg on

With a new year comes a new beginning. While New Year’s Day is typically viewed as a chance to start fresh and make changes in our personal lives, for many people New Year’s Day in 2013 took a different tone. Instead of...more

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