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Archive for the ‘Real Estate Tax’ Category

Steve Looney Quoted in Orlando Sentinel about the Mortgage Forgiveness Debt Relief Act

Published: December 18th, 2013

By: Stephen R. Looney

Steve Looney, chair of Dean Mead’s Tax department, is quoted in an article titled, “Big tax bills could hit underwater owners” in the December 18, 2013 edition of the Orlando Sentinel. The article about the Mortgage Forgiveness Debt Relief Act expiring is provided here:,0,3353972.story.

Tax Court Holds that Conservation Reserve Program Payments From USDA Are Subject to Self-Employment Tax

Published: December 3rd, 2013

By: Stephen R. Looney

In Morehouse,[1] the Tax Court held that the payments received by the taxpayers from the United States Department of Agriculture (USDA) Conservation Reserve Program (CRP) constituted self-employment income subject to the self-employment tax imposed under Section 1401. The taxpayer owned a number of acres of land in South Dakota, which he did not personally farm […]

New TAM May Curtail Ability of Community Development Districts to Issue Tax-Exempt Bonds

Published: August 9th, 2013

By: Charles H. Egerton

Please note:  This Tax Tip column will be published in the September–October 2013 issue of The Journal of Passthrough Entities, a publication of Wolters Kluwer Tax and Accounting. Introduction: On May 9, 2013, a Technical Advice Memorandum1 (the “TAM”) was issued with respect to a community development district (“CDD”) in Florida. Although the CDD and the developer that was […]

Options to Acquire Real Estate: When Will They Not Be Respected as “Options” for Tax Purposes?

Published: July 19th, 2013

By: Charles H. Egerton

Charles H. Egerton and Christine L. Weingart have had an article published in the May-June 2013 Journal of Passthrough Entities entitled Options to Acquire Real Estate: When Will They Not Be Respected as “Options” for Tax Purposes?

Dean Mead Seminar on March 27th: “Will the Recent Tax Changes Have a Major Impact on Your Real Estate Investments?”

Published: March 11th, 2013

The recently enacted American Taxpayer Relief Act of 2012, together with the new 3.8% tax on investment income that was added to the Code as part of the Patient Protection and Affordable Care Act, but first became effective for tax years beginning in 2013, are likely to have a significant impact on real estate investments.  […]

Potential Pitfall in Net Investment Income Tax

Published: February 6th, 2013

By: Christopher R. D’Amico

It is a common planning tool for businesses that own real property used in their trade or business to own such real property in a separate entity (the “Real Estate Holding Company”), which has identical ownership to the entity that operates the trade or business (the “Operating Entity”).  Typically, the Operating Entity leases the real property from the […]

Renewed Interest in Like Kind Exchanges in 2013

Published: January 18th, 2013

The Internal Revenue Code Section 1031 allows taxpayers to defer the income tax on gains on the “sale” of property used in a trade, business or investment property if the taxpayer instead engages in an exchange of such property and acquires qualified replacement property (a “like-kind exchange”).  During calendar year 2012, with the knowledge that […]

Tax Relief for Sale of Livestock Due to Drought

Published: July 13th, 2012

By: Brad Gould Dana M. Apfelbaum

Earlier today, reported that over one thousand counties nationwide are suffering drought conditions.  Most of Florida’s counties are included in that list.  Each year since 2006 the Secretary of the Treasury has extended the four-year period to acquire property similar or related in service or use (“Replacement Property”) under §1033 of the Internal Revenue […]