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Today in Tax: Qualified Small Business Stock, Opportunity Zones, Information Reporting for Digital Assets
A brief commentary on the past week’s cases, rulings, notices, and related federal tax guidance. Medical Software Deemed a Qualifying Trade for Qualified Small Business Stock Gain Exclusion When certain criteria are met, stockholders may be able to...
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Tips for Nonprofit Subsidiary LLCs
Aug 15, 2014
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Nonprofit charities regularly own or receive donations of real estate. In the real estate world, holding title to property in an isolated limited liability company is so common that many lenders’ and brokers’ template forms refer to “______ LLC,” wit...
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Be Prepared for "Call Before You Dig" Law Changes
Apr 03, 2013
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Washington enacted its Underground Utilities Act, known as the “Call Before You Dig” law, in 1984, and now every state in the nation has enacted a similar law. The law, in all states, generally provides that anyone excavating must call the 811 utilit...
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Commercial Real Estate Loan Documents: Borrower Be Aware
Sep 28, 2012
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Documentation on real estate loan transactions has grown exponentially over the years. The days when a borrower would sign a one-page promissory note and a two- or three-page deed of trust are long gone. Today, commercial real estate loan documentati...
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Goodwill Can Be Exchanged if Treated as Real Estate
Jan 06, 2012
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When attempting to exchange a business, exchanging the goodwill component is often a dead end. Goodwill of two different businesses may never be of like kind. Treas Reg § 1.1031(a)-2(c)(2). Goodwill associated with real estate, however, can generally...
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Heads I Win, Tails You Lose: Should Developers Dissolve Their LLCs After Completing a Project? (Part 2)
Jun 26, 2009
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The question whether real estate developers should dissolve their limited liability companies ("LLCs") that they typically create for development projects has been a hot topic for the past several years in Washington. As we reported in the November 2...
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