Joint Ventures For Passive Investors
January 21, 2015
Tax
Can Developers Recognize Long-Term Capital Gain By Selling Land They Don’t Own? Maybe, at Least in Florida, Georgia, and Alabama
January 7, 2015
Capital Gain Transactions
Reversing the US Tax Court, the US Court of Appeals for the Eleventh Circuit recently held that a real estate developer recognized long-term capital gain when he sold contractual purchase rights in real estate, even though the developer previously intended to develop and resell the underlying real estate as condominiums. The…
Applicable Federal Rates for January 2015
January 6, 2015
Applicable Federal Rates
The Internal Revenue Code prescribes minimum imputed interest rates and time-value-of–money factors applicable to certain loan transactions and estate planning techniques. These rates are tied formulaically to market interest rates. The Internal Revenue Service updates these rates monthly. These are commonly applicable rates in effect for January 2015: Short Term AFR…
$14,000 Gift Checks Deposited After December 31 Will Give You a Holiday Hangover; Charitable Gifts, Not So Much
December 29, 2014
Estate Tax
To conclude the Williams Parker Business & Tax Blog’s inaugural year, a few year-end tax tips: If you receive a holiday gift check intended to qualify for the donor’s 2014 Federal Gift Tax annual exclusion of up to $14,000 per year, per recipient, improve your chances of repeat future gifts…
With Only Two Weeks Left for Taxpayers to Act, 2014 Tax Extenders Bill Finally To Become Law: Should You Celebrate, Yawn, or Yell?
December 17, 2014
Legislation
On Tuesday, December 16 the Senate passed the “The Tax Increase Prevention Act of 2014,” popularly known as the 2014 Tax Extenders Bill. President Obama is expected to sign the bill into law. Unfortunately, even in its passage, the new law exemplifies political dysfunction and gridlock. The bill temporarily extends…