2021 Property Tax Valuations Being Determined

By: Brendan Lynch All around Florida, the elected county Property Appraiser in each of our state’s 67 counties is starting to determine 2021 valuations for property tax assessment purposes. Property tax valuations are ultimately published …

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, …

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 …

NIC Notes

By John Ruffier, Chair of the Lowndes Senior Housing Practice Group In case you are not one of the over 3,000 people attending the 2019 NIC Fall Conference in Chicago, we thought we’d share a …

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 …