Sentences with phrase «real estate tax purposes»

In the retail context, jurisdictions are still identifying the correct interest to be valued for real estate tax purposes, and the best appraisal methods to do so.

Not exact matches

Taxpayers who qualify as real estate professionals generally have been able to get a bigger tax break for those losses, which could prod some people to try passing as one for tax purposes.

A statutory nonemployee, which includes direct sellers and licensed real estate agents, is treated as self - employed for all federal tax purposes, including income and employment taxes.

GLPI elected to be taxed as a real estate investment trust («REIT») for United States federal income tax purposes commencing with the 2014 taxable year.

Brookfield plans to create a new real estate investment trust under the ticker «BPR,» which will qualify as a REIT for tax purposes and issue shares in this transaction.

NXRT intends to qualify and elect to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with its first taxable year of operations as a separate public company.

Like real estate investment trusts (REIT), MLPs are pass - through entities for tax purposes.

Many who took Canada up on the offer bought expensive real estate in Vancouver, parked their families there and paid little or no income tax because they continued to work and, ostensibly, reside overseas (at least for tax purposes).

(Onlyin California have country clubs gotten a break on real estate taxes: a yearago voters approved an amendment to assess club land at the rate specified forrecreational purposes rather than at building value.)

In addition to the new fees on for - hire services, the Assembly plan would impose a real estate transfer tax on residential and commercial properties valued above $ 5 million and a New York City - only surcharge on properties purchased solely for investment purposes.

The Assembly would also impose a real estate transfer tax on residential and commercial properties valued above $ 5 million and a New York City - only surcharge on properties purchased solely for investment purposes.

I think it would defeat the purpose of a lot of the tax breaks you normally get in real estate (like the depreciation your tax advisor wants).

An escrow account works like a savings account, but the money in the account can only be used for one purpose, the payment of your annual real estate tax bill and insurance premiums.

For tax purposes, property values are reassessed when real estate is sold, which often translates into higher taxes for new owners.

The most likely reason you'll have to pay AMT is if you have certain types of deductions that don't get counted for AMT purposes, such as real estate and state income taxes.

In assessing the value of real estate for property tax purposes, there are 3 standard approaches that are employed.

As a result, in the year of death, if you are a Canadian resident and you own U.S. real property, for Canadian purposes you may have a large «deemed» capital gain with respect to such property, in addition to a possible U.S. estate tax liability.

The real estate taxes are deductible if the tax is applied uniformly throughout the community and the proceeds go toward general community or governmental purposes.

We regularly are engaged to counsel on private equity funds and their portfolio companies, hedge funds, real estate development entities, joint ventures, master limited partnerships, upstream oil and gas development arrangements, renewable energy project finance and other tax credit partnerships, structured finance special purpose vehicles, cross border partnerships, and operating partnerships used in umbrella partnership real estate investment trust (UPREIT) structures.

This involved advising on the restructuring of their multi-national business interests to segregate their shareholdings in foreign business and real estate for tax and dynastic planning purposes.

Represented a real estate investment company in connection with its joint venture related to the ownership and refinancing of a Manhattan office tower; advised client on complex transfer tax issues idiosyncratic to New York City commercial real estate transfers and the formation of a REIT for purposes of acquiring the property.

For our purposes, these numbers were pulled from the U.S. Census, and «housing costs» include «mortgages, real estate taxes, various insurances, utilities, fuels, mobile home costs, and condominium fees.»

Whether it's for charitable giving or as in the case above, for estate tax purposes, the absence of an agent to keep an eye on the trend of the policy and it's possible demise, is a real problem.

Nash County Tax Department, Nashville • NC 2003 — 2005 Real Estate Appraiser Handled real estate property appraisal in the county for tax purposTax Department, Nashville • NC 2003 — 2005 Real Estate Appraiser Handled real estate property appraisal in the county for tax purpoReal Estate Appraiser Handled real estate property appraisal in the county for tax purEstate Appraiser Handled real estate property appraisal in the county for tax purporeal estate property appraisal in the county for tax purestate property appraisal in the county for tax purpostax purposes.

Searched public and private records and indices and compiled a list of legal instruments pertaining to property titles such as mortgages, deeds, and assessments for insurance, real estate, or tax purposes.

The bill would impose a tax on the sale of all goods and services purchased for individual use — including residential real estate, food, clothing, day care — but would not tax purchases for business and investment purposes, such as office equipment and stocks and bonds.

With regard to NON RESIDENT BUYERS I was advised by a solicitor in Ontario that even a Canadian Citizen / permanent resident (ex pat) living outside Canada in excess of 6 months would, upon re entering Canada and purchasing residential real estate in the GTA be considered a «non resident» for tax purposes.

NYRR is a publicly registered, non-traded real estate investment trust that has qualified as a REIT for tax purposes.

Second, substantially all payments for the licensed real estate agent's services must be directly related to their sales or other output rather than based on number of hours worked, and lastly, the real estate agent's services must be performed pursuant to an agreement that states the real estate agent will not be treated as an employee for federal tax purposes.

Further, Michigan's real estate statute defines an «independent contractor relationship» as a relationship between a real estate broker and an associate broker or real estate salesperson where there is both a written agreement between the parties stating that the associate broker or real estate salesperson is not considered an employee for federal and state income tax purposes and not less than 75 % of the annual compensation paid by the broker to the associate broker or real estate salesperson is from commissions from the sale of real estate.

Griffin - American Healthcare REIT IV qualified to be taxed as a real estate investment trust for federal income tax purposes beginning with its taxable year ended December 31, 2016, and it intends to continue to qualify to be taxed as a REIT.

Section 1031 allows deferral of taxes on the disposition of real estate held for investment or business purposes, as long as that real estate is exchanged for another «like - kind» property (commonly referred to as «(1031 exchanges»).

The IRS is highly skeptical that people who have day jobs can put in enough hours in real estate to qualify as a real estate professional for tax purposes.

The real estate industry has sought to establish salespersons as independent contractors for tax purposes.

The real estate industry has sought to establish salespersons as «independent contractors» for tax purposes and this concept has enhanced the misunderstanding of salespersons.»

The Real Estate Settlement Procedures Act (RESPA) sets limits on the amounts that a lender may require a borrower to put into an escrow account for purposes of paying taxes, hazard insurance and other charges related to the property.

It has elected to be taxed as a real estate investment trust for federal income tax purposes.

In assessing the value of real estate for property tax purposes, there are 3 standard approaches that are employed: the Cost Approach, the Sales Comparison Approach, and the Income Approach.

Almost all real estate agents are considered self - employed for tax purposes.

Real estate will remain a depreciable asset, at least for tax purposes.

Our real estate appraisals are used for a variety of purposes including financial reporting, asset management, collateral financing, strategic planning, estate planning, property tax appeals, litigation support, and purchase price allocation.

According to federal law, for federal tax purposes, real estate agents will not be treated as employees if these three requirements are met: (1) The agent must be licensed; (2) Substantially all income must be made on the basis of sales or output, not on hours worked; and (3) There must be a written contract between the salesperson and company stipulating independent contractor status.

«So there is a dual purpose going on here — it is a security for securities law purpose, but a direct interest in real estate, for tax law purposes.»

But tax is its own universe, so for tax law purposes, when a DST is designed properly, is treated as a direct ownership interest in the underlying real estate,» said Steven R. Meier is co-chair of the real estate securities practice at Jenner & Block.

We intend to qualify as a real estate investment trust, «REIT,» for federal income tax purposes.

By law, California real estate is valued each year as of January 1 (lien date) for property tax purposes.

Although real estate actually appreciates in value, for tax purposes, the government permits an investor to depreciate the asset over either 27 1/2 years or 39 years, depending on whether the property is residential or commercial.

If an investor is able to meet the criteria set forth in Section 1031 and reinvests the proceeds from a sale of commercial real estate into other property of «like - kind,» then the investor is not considered to have received a gain or loss for tax purposes.

For tax - deferred like - kind exchange purposes, an agent includes any employee, attorney, accountant or investment banker or real estate agent or broker that has had an agency relationship with the investor within the two - year period prior to and the two - year period subsequent to the investor's tax - deferred like - kind exchange transaction.

In addition to providing consumers with appropriate disclosures, the purposes of RESPA include, but are not limited to, effecting certain changes in the settlement process for residential real estate that will result in (1) the elimination of kickbacks or referral fees that Congress found to increase unnecessarily the costs of certain settlement services; and (2) a reduction in the amounts home buyers are required to place in escrow accounts established to insure the payment of real estate taxes and insurance.