Tax Warrior Chronicles

Understanding REITs and Their Place in Your Portfolio

Posted on Fri, Mar 06, 2020

By: Stuart Shikiar, Albert Sipzener, Lockwood Sloan and Sam Shikiar

 

Real estate has been a time-tested addition to investor portfolios. Real Estate Investment Trusts, or REITs, provide an opportunity for tax-advantaged income investing. Today’s post features a discussion by the team at Shikiar Asset Management, a New York-based registered investment advisor and long-time friend of Drucker & Scaccetti.  Here is what they have to say about REITs…

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IRS Hones in on Partial Asset Disposition Deductions

Posted on Fri, Jan 17, 2020

By: Ashley Menders

 

On November 6, 2019, the IRS released a process unit to train and educate its agents on partial asset dispositions of a building. The release of this educational material to its employees may indicate IRS intent to target these deductions for examination, which are common in the real estate industry. Before we address this development, we'll first give you a refresher and explain the information your tax preparer needs to determine if you may benefit from the deduction. Finally, we'll address risk mitigation, given the recent IRS pronouncement.

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The New Tax Law: 2018 Year-End Planning Tips for Businesses

Posted on Wed, Nov 28, 2018

The Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017, and became effective on January 1, 2018.   For many businesses, the TCJA provides benefits such as reduced corporate tax rates, removing the corporate alternative minimum tax, and a new pass-through business income deduction.  However, many tax planning ideas go beyond the big-ticket items.  The Tax Warriors® at Drucker & Scaccetti are here to provide some of the top year-end tax planning tips.

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The Basics of Becoming a Business Partner

Posted on Thu, Mar 16, 2017

By: Irina Moyseyenko, CPA, MT and Kim Racer Robinson, EA

 

You’ve been offered an opportunity to invest in a partnership; or perhaps you’ve been  promoted to partner at your law, accounting or architectural firm.  After spreading the good news to everyone, you come to grips with the great unknowns. What does it mean to be a partner? How will my financial life change? Below, we review a few things to consider before signing on the dotted line.

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Are You in the Business of Flipping Houses?—Tax Court Answers This Real Estate Question

Posted on Thu, Dec 04, 2014

Issachar Ohana, et ux. V. Commissioner, TC Memo 2014- 83

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