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 …

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 …

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 Improves Expensing and Depreciation Rules

By: Amanda Wilson The Tax Cut and Jobs Act made several key changes to the expensing and depreciation rules, which will be a boon for Senior Living businesses that tend to be real estate heavy. …

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 …