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August 1, 2022

How to Use Smart Technologies Smartly

In response to buyer and tenant expectations, many owners and developers are now regularly incorporating smart technologies in their projects. But buyers and tenants understandably also have expectations regarding cybersecurity measures. The risks are real, but they can be significantly reduced with forethought and vigilance. (more…)

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Categories: Real Estate
Tags: Data Security, Real Estate, Smart Technology,
July 11, 2022

Depreciation Strategy Using Cost Segregation

By Nikky Ly, Tax & Advisory Manager
ASL Real Estate Group

Imagine you just bought a rental property for $1 million with $200,000 down payment, your CPA says “Congratulations! You are saving over $10,000 in federal tax with this purchase.” Here is the breakdown: (more…)

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Categories: Real Estate, Summer 2022
Tags: Cost Segregation Studies, Depreciation Strategies, Nikky Ly, Real Estate,
May 10, 2022

The Importance of an Insurance Coverage Audit

Insurance is a fact of life for real estate investors. From start to finish, each project needs to have the proper insurance. The time to wonder whether you’re properly insured is before there’s an issue. To be safe, hiring a qualified professional to help you conduct an insurance coverage audit may be necessary. Coverage audits can reduce the odds of an uncovered incident undermining the project’s profitability — or worse. (more…)

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Categories: Real Estate
Tags: Insurance, Insurance Coverage Audit, Real Estate Insurance,
March 9, 2022

Proposed Regs Clarify Rehabilitation Credit

The IRS has released proposed regulations regarding changes made to the Internal Revenue Code’s Section 47 rehabilitation tax credit under the Tax Cuts and Jobs Act (TCJA). The regulations address several taxpayer concerns that have arisen in the wake of the law’s passage, including how the credit should be allocated. (more…)

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Categories: Real Estate
Tags: Real Estate, Rehabilitation Credit, Tax Cuts and Jobs Act, TCJA,
February 22, 2022

Consolidated Appropriations Act - 3 Provisions for the Real Estate World

Late 2020 saw the enactment of a massive new federal spending law. Much of the media attention focused on the relief related to COVID-19, but the Consolidated Appropriations Act (CAA) also includes some tax-related provisions of particular interest to real estate owners and developers. Here are some tax law changes you should know about. (more…)

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Categories: Real Estate
Tags: Consolidated Appropriations Act, Empowerment Zones, Low-Income Housing Tax Credit, Real Estate,
January 3, 2022

Can You Deduct Travel Costs to Monitor Properties? U.S. Tax Court Says Yes, Within Limits

The Internal Revenue Code allows the deduction of “ordinary and necessary” business expenses, including travel expenses while away from home overnight for business. A recent ruling by the U.S. Tax Court is a good reminder that the deduction is subject to some restrictions. (more…)

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Categories: Real Estate
Tags: Real Estate, Travel expenses,
December 13, 2021

Dinner’s on Me! Big Changes to Meal and Entertainment Expense Deductions

Players in the real estate industry have long incurred meal and entertainment expenses while conducting business. But in recent years, there’s been some confusion about what’s deductible and what’s not, given that the Tax Cuts and Jobs Act (TCJA) placed some new limits on the meal and expense deduction beginning in 2018. Now the deduction for qualifying meals has temporarily increased to 100%, and some IRS guidance has provided more clarity on the TCJA’s limits.

(more…)

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Categories: Real Estate
Tags: Meal and entertainment expenses, Real Estate, TCJA,
November 11, 2021

Use of Delaware Statutory Trusts for 1031 Exchanges

By Jillian Pace, CPA, Tax Manager
ASL Real Estate Group

Real estate investors have long used 1031 exchanges to defer capital gains and other taxes from the sale of “like-kind” properties. In recent years, there have been some issues with typical 1031 exchanges such as finding replacement properties, complying with the required property identification and purchase time requirements, investing all sale proceeds from the exchange, seeking diversification, etc. Real estate investors may want to consider some alternatives to typical 1031 exchanges to help avoid these types of issues. One increasingly popular alternative is the use of Delaware Statutory Trusts. (more…)

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Categories: Fall 2021, Real Estate
Tags: 1031 Exchanges, Delaware Statutory Trusts, Jillian Pace, Real Estate Investors,
July 21, 2021

Tax Considerations for the Sale of Real Estate

By Ivette Carrasco, CPA, Tax Manager
ASL Real Estate Group

There are different tax treatments to consider when selling your real estate property. The property can be classified as a primary residence, a real estate rental, an investment property, or a second home/vacation rental. The applicable tax consequences on the sale of a property depends on how the asset was classified in the current and prior tax years. It is important for real estate owners to be aware of the various tax implications that a real estate sale can trigger. (more…)

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Categories: Real Estate, Summer 2021
Tags: Investment property, Ivette Carrasco, Real Estate, Rental real estate, Vacation rental,
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