Like Kind Exchange

Like Kind Exchange Requirements

As with every other section of the tax code, Section 1031 like kind exchange rules abound. Complying with Section 1031 is not unlike jumping through a series of bureaucratic hoops. In a very real sense, when you approach someone to assist with a 1031, what sets a good counselor apart is his or her understanding […]

Exchange-First Reverse Exchanges

Exchange-First Reverse Exchanges

Reverse 1031 exchanges are complex transactions. These transactions stand up under judicial scrutiny, such as in the case of Bartell. The IRS has also stepped in and tried to provide guidance for taxpayers wishing to perform these transactions. Although they are complex, they can offer advantages to taxpayers. And, in some cases, taxpayers need to conduct […]

1031 qualified Intermediaries

Regulate 1031 Qualified Intermediaries?

The 1031 industry is little known outside the world of tax attorneys, CPAs and real estate professionals. To most people, 1031 exchanges are a foreign concept, something far-removed from what is relevant in their daily life. But, obscure as it may be, Sec 1031 qualified intermediaries see many millions of dollars pass through their hands on a […]

Sec 1031 Carry Back Notes

Sec 1031 Carry Back Notes

Awhile back, we discussed the partnership installment note method in partnership 1031 exchanges. As you may recall, this method was basically an exit strategy so that partnerships could buy out an exiting partner with optimal tax treatment. In this post, we will discuss another note which turns up even more frequently in 1031 exchanges: Sec 1031 carry […]

New York's Cannabis tax law

New York’s Cannabis Tax Law

Last year, New York’s plan to legalize recreational cannabis failed when the measure was unable to gather sufficient support. The new proposal had those who predictably opposed it, such as law enforcement, political conservatives and teachers. But the measure also had some unexpected opponents, such as progressives who felt that the measure failed to do […]

serious corporate debt

Serious Corporate Debt

As we’ve seen, debt is something common to individuals, companies and even States. No entity is insulated from the possibility of acquiring a debt load. For many Americans, debt has become something of a staple of modern life. Americans commonly take on debt for college, automobiles, homes and other major purchases. If we just take […]

Worst Fiscal Condition

States in the Worst Fiscal Condition

States are just like any other entity when it comes to money management. States have income, liabilities, long and short term obligations, and so forth. We may be tempted to think that, at the state level, fiscal problems are either non-existent or very easily solved if they do occur. But this is simply not the case. States […]

Corporate Tax Rate

State Corporate Tax Rates

The majority of the states in these United States have a corporate income tax which they levy on their in-state businesses. These corporate income taxes contribute toward the general fund of states and help further numerous state projects. Some states have a flat corporate tax rate, but most have a graduated corporate income tax which mirrors the […]

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