Business & Real Estate Taxation Articles
The current global economic environment demands that legal, accounting and financial professionals be well versed in international tax and estate planning. Sound planning and creative
Recent litigation has put into question the tests for determining the validity of a partnership and one’s status as a partner. The seemingly simple questions of whether, for tax purposes, a partnership exists and whether one is a partner require thoughtful, and sometimes complex, analysis to answer.
All too often, the restrictions involved prevent taxpayers from taking advantage of the Service’s safe harbor for reverse exchanges. Non-tax economic and business considerations may make it impossible to identify and acquire replacement property within the prescribed periods. Reverse exchanges outside of the safe harbor may be accomplished , however, under the pre-existing case law. The use of a net lease can improve the likelihood that these non-safe-harbor transactions may pass muster.