News & Analysis as of

Tax-Deferred Exchanges

ESOPs: An Alternative Exit Strategy for Family-Owned Businesses

One of the most difficult challenges for owners of family-owned businesses is finding a way to turn their equity in the business into cash. Also, after putting years of hard work into a business, owners often have a desire...more

The Estate of George H. Bartell et. al. v. Commissioner – IRS Issues an Action on Decision – Was It Too Good to Be True? The IRS...

by Garvey Schubert Barer on

As reported on March 8, 2017, the U.S. Tax Court issued a taxpayer-friendly decision in Estate of George H. Bartell, et. al. v. Commissioner, 147 TC 5 (June 10, 2016). The ruling seemed too good to be true. I advised readers...more

“Tax-Free” Exchanges May Not Be Free of Tax

by Farrell Fritz, P.C. on

Business owners love to hear the words “tax-free” when considering the disposition of business assets. Unfortunately, many fail to grasp that a tax-free disposition is rarely free of tax in the sense of never being taxed;...more

Form Over Substance Sometimes Prevails in Tax Law – Estate of George H. Bartell et. al. v. Commissioner

by Garvey Schubert Barer on

In most areas of law, substance prevails over form. Code Section 1031 is possibly one of the few exceptions to this time-honored rule of jurisprudence. Under Code Section 1031, form may prevail over substance. The U.S. Tax...more

When A “Tax Free” Exchange May Not Be Free of Tax

by Farrell Fritz, P.C. on

“Tax free” – two words that often bring great delight when they are spoken by a tax adviser to the owner of a business, whether he is considering the disposition of a single asset, or of substantially all of the assets, of...more

Tax Planning in Uncertain Times

by McNair Law Firm, P.A. on

There is a long list of reforms that the Trump administration intends to tackle and one of the items on the list is tax reform. Although there are multiple proposals by various players and significant variations among the...more

Rolling Over Target Equity Into A PE Fund: Part II

by Farrell Fritz, P.C. on

Roll-Over: Tax Issue - Picking up on yesterday’s discussion, how can a PEF reconcile its preference to acquire a depreciable or amortizable basis for its target’s assets while, at the same time, affording the target’s...more

Rolling Over Target Equity Into A PE Fund: Part I

by Farrell Fritz, P.C. on

For many business owners, the final step of a successful career may be the sale of their business. At that point, the investment into which the owners have dedicated so much time, effort and money is liquidated, leaving them...more

The Basics of 1031 Exchanges - Part One

by Ward and Smith, P.A. on

This is part one of a two-part series on Internal Revenue Code Section 1031 Tax-Deferred property exchanges. This first article will provide an overview of the rules that govern 1031 exchanges. Part two will deal with the...more

Disposing of Real Property in a Tax-Advantaged Manner

by Farrell Fritz, P.C. on

Many of our clients are heavily invested in real property. In some cases, this investment may be a single property in a prime location; in others, the client (and maybe his family) is in the business of owning and operating a...more

Tax Court Rules on the Transfer of Benefits and Burdens of Ownership in Tax-Deferred Exchanges

by Miles & Stockbridge P.C. on

In the recently decided case of Estate of George H. Bartell v. Commissioner, 147 T.C. No. 5 (August 10, 2016), the U.S. Tax Court held that the like-kind exchange engaged in by the taxpayer’s S corporation should be respected...more

Corporate Finance Alert: SEC Staff Continues to Focus on Non-GAAP Financial Disclosures

In recent months, companies have experienced greater scrutiny of their use of non-GAAP financial measures by the staff of the U.S. Securities and Exchange Commission (SEC). This greater scrutiny follows the release earlier...more

New Regulations Dramatically Alter Partnership 'Disguised Sales' and Allocation of Partnership Liabilities

On October 4, 2016, the Internal Revenue Service and the Treasury Department issued a sweeping package of proposed, temporary and final regulations under the Internal Revenue Code that, among other things, significantly...more

Avoiding Pitfalls When Forced to Start Breaking Your Retirement Piggy Bank

The oldest of the 75 million baby boomers have begun turning 70 in 2016. Becoming a septuagenarian is a milestone in itself, but it also means that soon the IRS will likely be expecting you to start cashing out your...more

Required Minimum Distributions: Is Deferral Always the Best?

by McNair Law Firm, P.A. on

Most people are familiar with the significant income tax benefits of contributing to a qualified retirement plan such as a 401(k) plan, or individual retirement accounts (IRAs) and the deferral of the income earned by the...more

Global Tax News: US Congress: tax reform emerging as major 2016 campaign issue – financial industry a prime target

by DLA Piper on

Tax reform is emerging as a major issue in the 2016 US presidential campaign, and in the growing wave of populist anger at the establishment elite in Washington and Wall Street, the financial industry has become a prime...more

A Tribal Financial Executive’s Guide to Deferred Per Capita Plans

by Holland & Knight LLP on

With the top tax bracket at nearly 40 percent, Indian tribes making substantial per capita distributions are asking what they can do to reduce their members’ tax liabilities. One option to consider is a deferred per capita...more

Tax and Estate Planning Newsletter - Summer 2015

by Archer Norris PLC on

Dear Clients and Colleagues: This summer’s weather is a mix of hot and cold temperatures, and the rain we need so desperately is coming now in sprinkles along with thunder and lightning. Along with changes in the...more

Actual or Constructive Receipt of Funds During a Code Section 1031 Deferred Exchange is More Than a Bad Hair Day for the Taxpayer

by Garvey Schubert Barer on

Background - Actual or constructive receipt of the exchange funds during a deferred exchange under IRC Section 1031 totally kills an exchange and any tax deferral opportunity. Treasury Regulation Section 1031(k)-1(f)(1)...more

Vacation Homes and Taxation

by Pessin Katz Law, P.A. on

Summer is in full swing and PK Law thought it an appropriate time to discuss the tax implications of owning a vacation home. The general benefits of such ownership are obvious: a cheaper family vacation over the short term;...more

1031 Exchanges: Exchanging Out of California? Do Keep In Touch

As we have noted previously, many property owners are aware that one can sell investment property and reinvest the sales proceeds in like-kind investment property without having to pay tax on the sale. Such transactions are...more

1031 Exchanges of Investment Property— Recent Cases

Many property owners are aware that one can sell investment property, at a profit, and reinvest the sales proceeds in replacement investment property, without having to pay tax on the sale. Such transactions are known as...more

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