May, 2023
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New Mexico Makes Changes to their Entity-Level Tax Rules
The annual elective entity-level tax, which was enacted in 2022 for New Mexico passthrough entities, became effective for taxable years beginning on or after January 1, 2022. The tax was designed to allow passthrough entity owners to take advantage of the federal deduction for state and local taxes paid at the entity level, a similar […]
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Foreign Investment in U.S. Real Estate
Earlier this year, the IRS issued proposed regulations that could threaten how non-U.S. investors invest in real estate funds, private equity funds and other tax structures. The Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”) requires any gain realized by a non-U.S. investor from the sale or other disposition of a U.S. real […]
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The Debt Limit and Real Estate
Debt limit negotiations between the Biden Administration, the Democrat-controlled Senate and the Republican-led House of Representatives continue to go nowhere. The day of reckoning is almost upon us, as the United States government is quickly approaching the much discussed “X date.” The debt limit, also known as the “debt ceiling,” is a statutory cap on […]
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Recordkeeping Under the Alternative Cost Method
Taxpayers are encouraged to begin documenting now their approach to the Alternative Cost Method.
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Building a Workforce with WOTC and FEZ
Cost segregation studies, Section 45L credits and Section 179(D) deductions are some of the most commonly discussed tax savings opportunities in real estate, but there are two often under-utilized tax credits that are available to real estate developers and owners/operators: the Work Opportunity Tax Credit and the Federal Empowerment Zone Tax Credit. Here are some […]