By: Amanda Wilson In the senior living area, a taxpayer that is selling a community may look to avoid recognizing gain on the sale by entering into a Section 1031 like-kind exchange with respect to …
IRS Extends Tax Day to May 17th
By: Amanda Wilson The Internal Revenue Service provided individual taxpayers a nice St. Patrick’s Day surprise by announcing that the tax deadline for individuals had automatically been extended from April 15, 2021 to May 17, …
Important Year End Deadline for Opportunity Zones
By: Amanda Wilson Opportunity zones provide a powerful tool for taxpayers to defer recognizing their capital gains if they roll over their investment into a qualified opportunity zone fund, and offer investors the potential of …
IRS Finalizes Real Estate Safe Harbor for 20% QBI Deduction
By: Amanda Wilson Section 199A introduced a 20% deduction for qualified business income (previously discussed here). To qualify for the deduction, income must be from a trade or business. Whether rental activity rises to …
Real Estate Safe Harbor for 20% QBI Deduction
By: Amanda Wilson Section 199A introduced a new 20% deduction for qualified business income (previously discussed here). To qualify for the deduction, income must be from a trade or business. Many senior living communities hold …
Considering Making A Qualified Opportunity Zone Investment?
By: Amanda Wilson Qualified Opportunity Zones are a hot topic in the tax and business world, and are an opportunity that span into almost any business market including senior living. I get questions about them …
Now Is The Time To Review Your Tax Provisions
By: Amanda Wilson As tax season is underway, one important deadline is coming that should not be overlooked. Tax law allows for partnership and LLC agreements to be amended retroactively to the first day of the …
Before 2018 Ends, Be Sure Your Partnership Agreements Are Up To Date
By: Amanda Wilson As 2018 comes to a close, it is important to make sure that your partnership and LLC agreements reflect the new tax law that went into effect on January 1, 2018. For all tax …
Tax Reform Brings New Interest Expense Limitation
By: Amanda Wilson The Tax Cut and Jobs Act introduced a new rule limiting a businesses ability to deduct interest expense, which can have a significant impact in the senior living area as facilities often …
Are Your Partnerships Ready for 2018?
By: Amanda Wilson While the news is filled with the ongoing tax reform activity in Congress, there is one tax change that is already in place to take effect January 1, 2018 – the repeal …
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