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 …
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 …
Republicans Announce Tax Reform Framework
By: Amanda Wilson After months of speculation, President Trump and the Republicans have finally announced their framework for tax reform. While specific details are not known, the key elements of the framework that could impact …
Have a Partnership? Return Due Date is This Wednesday (March 15)
By: Amanda Wilson As we mentioned when the new law was passed (see prior discussion here), the federal due date for filing partnership and corporate tax returns changed for tax years beginning on or after 2016. …
Ryan Says Tax Reform Coming, But Later This Year
By: Amanda Wilson On Friday, House Speaker Ryan stated publicly that tax reform legislation will be included in one of two must pass budget resolutions this year, but it will be included in the fiscal …
IRS Reduces Built-in Gains Tax Period For REITs
By: Amanda Wilson Ownership structures using real estate investment trusts (“REITs”) are common in the Senior Housing industry. One of the key benefits of a REIT is that it is effectively a pass through entity …
What Is Carried Interest?
By: Amanda Wilson During the second presidential debate, one of the few things that both candidates agreed on was doing away with carried interest as part of their proposed tax changes. This could have significant …
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