The following article from Buckingham attorney Steven A. Dimengo discusses tax-avoidance strategies for the sale of real property. Contemplating the sale of real property held for investment or use in a trade or business but want to avoid paying any tax, perhaps even permanently? The key question is: do you intend to maintain your investmentRead More
Events & Webinars
Buckingham Attorney Nicholas T. George recounts a recent matter in which he was able to help a client avoid substantial taxes in a real estate conveyance. I thought I would share with everyone the following information. Recently I represented a property owner of a large machining operation. My client, the seller, was in the processRead More
In WCI Steel, Inc. v. Testa, the Ohio Supreme Court recently held that a taxpayer is allowed to introduce a new property valuation or appraisal at the Board of Tax Appeals (BTA) not previously presented to the Ohio Tax Commissioner. Although this case involved Ohio personal property tax, the ruling also applies to real propertyRead More
Attorney Neil Bhagat presents a follow-up to his Introduction to New Market Tax Credits: Recently, Bloomberg Markets Magazine published an article criticizing the use of New Market Tax Credits (NMTCs) to finance commercial real estate developments. In particular, the article focused on the renovation of the Blackstone Hotel in downtown Chicago, which used $15.6Read More
Buckingham attorney Neil Bhagat provides the following introduction to New Market Tax Credits: New Market Tax Credits (NMTCs) are an increasingly utilized strategy for encouraging economic development in struggling areas. At its core, the program allows investors to receive a tax credit in return for making qualified equity investments in groups designated as CommunityRead More
