How the new Tax Act impacts individual and fiduciary income tax planning
The Tax Cuts and Jobs Act of 2017 made some of the most significant changes to the income tax provisions of the U.S. tax code since the Tax Reform Act of 1986. While some of the changes are permanent, a lot of the changes are only effective for tax years 2018 – 2025 unless Congress takes further action.
Below is a summary of the highlights that will be most impactful on individual and fiduciary income tax planning in 2018.
Tax rate and bracket changes
The Act modified the federal income tax…
Using a PPM reduces risks of personal liability when bringing on investors
Under state and federal securities laws, owners and managers of companies raising capital through sale securities (e.g., stock or membership interests in companies) can be personally liable for material misrepresentations and omissions in any description of the business or investment.
To reduce the likelihood of any personal liability, companies selling securities should utilize a private placement memorandum (PPM). A PPM provides companies (and their ownership and management) with proof that…
Pop-up retailers to debut at new retail strip by San Pedro Square Market
A new retail pop-up is slated to open next month along one of the busiest streets in downtown San Jose, across from the San Pedro Square Market.
Moment at San Pedro Square will open May 18 with four new woman-owned retailers in what was once 12 parking spots at the city-owned Market-San Pedro Garage. The project has long been in the works after winning $139,000 from the Knight Foundation in 2015 in an application led by the San Jose Downtown Association.
“The parking garage has been transformed…
Despite lawsuit, Petrovich begins work on Crocker Village retail center
Though a lawsuit over the project is still active, site grading is underway for Crocker Village’s retail center.
3 Portland CRE maestros named among the nation’s top execs
A trio of Portland real estate aces have landed on a prestigious new list that honors notable commercial executives.
Kevin Cavenaugh, of Guerilla Development was joined by JLL's Patricia Raicht and Craig Reinhart on the new Business Journals’ Influencers: Commercial Real Estate list. The grouping spotlights 100 executives having an influence on real estate and development in their respective communities.
These 100 executives represent both large, nationally recognized firms and smaller, family-owned…
Costco to build new store in Broward after $6M deal
Costco Wholesale Corp. has closed on a site in Coral Springs after receiving city approval in December to build a store there.
WCP Kensington LLC, managed by Bruce R. Cohen of Chicago-based Wrightwood Capital properties, sold the property near the northeast corner of Wiles Road and Coral Ridge Drive to Costco (Nasdaq: COST) for $6.1 million. The 17.24-acre site is just south of the Sawgrass Expressway.
It was seized in foreclosure in 2009.
Costco secured city approval for a 157,000-square-foot…
It’s not what you make when you invest, it’s what you keep
The phrase “It's not what you make, it's what you keep,” has been uttered for years and in a variety of different ways, most often in reference to one's income and rate of savings/spending. But when it comes to investing and taxes, the saying rings just as true.
A 2017 study by Morningstar estimates that over the 90-year period ending in 2016, investors gave up an average of one to two percentage points per year to taxes.
Given these statistics, it’s surprising how often taxes are overlooked…
Anonymous Owner, LLC: Why it has become so easy to hide in the housing market
When Sean Hannity, the popular Fox News host, was revealed to be a property owner and landlord of considerable scale, it highlighted how opaque the housing market has become.
Bill passes to raise withholding on sales of Hawaii property by nonresidents
HARPTA applies to sales by nonresident individuals and corporations.
Shorenstein breaks ground on transformational project on edge of gritty Tenderloin
Shorenstein's 304 apartments is one of several large new housing developments that could bring thousands of residents to the rapidly changing neighborhood that straddles the Tenderloin and Mid-Market.