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Use Of Condo By Son Blows 1031 Exchange For State Tax Purposes

Use Of Condo By Son Blows 1031 Exchange For State Tax Purposes

  Originally published on Forbes.com July 23rd, 2014 The like-kind exchange (Code Section 1031) is one of the most powerful non-recognition provisions.  Although it is applicable to many types of property, it is particularly valuable in real estate, since all...
Chicago Politician Loses Appeal Of Criminal Tax Conviction

Chicago Politician Loses Appeal Of Criminal Tax Conviction

Originally published on Forbes.com July 18th, 2014 In the Fox News worldview, William Beavers is probably the poster boy for the type of person that the IRS would not target. He is a Democratic politician from Chicago (a Cook County Commissioner) and African-American...
Government Shutdown Does Not Convert Prison Time To Probation

Government Shutdown Does Not Convert Prison Time To Probation

Originally published on Forbes.com July 17th, 2014 I’m wondering if Young C. Park might have had that “Better to be lucky, than good” feeling when he heard that he was being sentenced to three years probation and sixth months home confinement.  He...
Facade Easement Deduction Allowed

Facade Easement Deduction Allowed

Originally Published on forbes.com on July 5th,2011 ______________________________________ In a recent case  Dorothy Simmons was allowed deductions for contributions of facade easements. I once asked one of my clients what it really meant to own real estate.  He told...