The 2017 Tax Cuts and Jobs Act provided a 100% first year write-off for many types of capital expenditures. Congressional tax writers intended this benefit to be available for leasehold improvements, which would be a boon to retail and restaurant businesses and their landlords. Unfortunately, in the rush to get the tax bill pushed through, … Continue Reading
Welcome to In the Zone: GT Qualified Opportunity Zone News. Our monthly digest of the latest federal and state developments in Qualified Opportunity Zones and Qualified Opportunity Funds and related Greenberg Traurig news and events will keep stakeholders apprised of the most pressing issues in this burgeoning space. President Trump’s Tweets Show Continued Strong Support … Continue Reading
The following is a summary of the real estate provisions of the Tax Cuts and Jobs Act (TCJA) signed into law by President Trump on Dec. 22, 2017. Individual Rates (Temporary) General tax rate and bracket reductions for individuals (top rate of 37 percent applies to income above $600,000 for joint filers, $500,000 for single … Continue Reading
On Dec. 20, 2017, the House and Senate passed the Tax Cuts and Jobs Act, H.R.1, and this bill is on its way to President Trump for signature. When signed into law, the Tax Cuts and Jobs Act would have a wide impact on various aspects of U.S. federal individual, corporate, partnership, international, and trust and … Continue Reading
The Senate Proposal – Some Good News. The Senate Finance Committee released its proposed tax bill (the “2017 Senate Tax Bill”) late on November 9, 2017. Unlike the 2017 House Tax Bill (defined below), the 2017 Senate Tax Bill would maintain current private activity bond provisions without modification (although, like the 2017 House Tax Bill, … Continue Reading
Greenberg Traurig Shareholder Diana Zeydel, was recently quoted in Forbes where she discusses estate tax valuation rules. The article is in response to President Donald Trump’s executive order to reduce tax regulatory burdens. The U.S. Treasury identified the valuation rules as significant and ripe for review in an interim report and is accepting comments through Thursday, … Continue Reading
NOTE: This information is correct as of 1 p.m. EST, Wednesday, Nov. 9, 2016. While all the returns have not yet been certified, there is no question that it was a big night for President-elect Donald Trump. Just as he has done throughout the entirety of the campaign, President-elect Trump stunned political analysts last night … Continue Reading
