The Xavier Regiment – Back To The Future
In the last couple of years I have been sporadically haunted by memories of my somewhat peculiar high school days. Xavier High School at 30 West 16th Street in...
Does IRS Exelon Win Threaten Triple Net 1031 Deals?
Here is the problem they faced. In order for the economics of this deal, other than tax benefits, to work there did not have to be an actual power plant involved. After all, Unicom is getting 77% of the money back in six months and there is an insurance company guaranteeing that they will get more than 100% of the money in a little over thirty years and probably not by coincidence the timing is such that they could defer the back end money with another 1031 deal.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.