What will happen to my 2020 Property Taxes?

By Brendan Lynch:  As the pandemic continues to ravage many industries, senior living facilities continue to stand apart as specially impacted properties. From the outset of the COVID-19 crisis, these facilities have been in the …

Have an Open Like-Kind Exchange? Don’t Fall Into This Trap

By:  Amanda Wilson A common tax planning tool for real estate transactions is to engage in a like-kind exchange of real estate.  If structured properly, a taxpayer can sell real property (the relinquished property) and …

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 …

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 …

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 …