Business & Real Estate Taxation Articles

Cryptocurrency – Don’t Look Now, But Here Comes the Tax Man

By Raymond J. Holst The Bitcoin blockchain went live over thirteen years ago on January 3, 2009. If you’re like most investors, you may have …

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Bloomberg Tax: Tax Management Estates, Gifts and Trusts Journal – Using Charitable Remainder Trusts to Defer Reporting the Gain Realized From the Sale of Marketable Securities for Cash

For appreciated marketable securities owners who do not want to wait until the income tax-free step-up in basis at death or cannot take advantage of …

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Is a Prenup Really Necessary for Assets in a Spendthrift Trust?

It’s a Family Affair: Is a Prenup Really Necessary for Assets in a Spendthrift Trust  answers the question asked by its co-authors Stephen Breitstone, the Head …

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What You Need to Know about Freeze Partnerships

By Andrew L. Baron What is a preferred freeze partnership? A preferred freeze partnership is a partnership that has two distinct classes of ownership interest: …

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Tax Bulletin: Planning for Impact of Tax Cuts and Job Act

This is the first of a series of Bulletins discussing the significant tax law changes and planning opportunities presented by the Tax Cuts and Jobs …

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Taxnotes®: Statutory Clarity for Early Termination of NICRUTs and NIMCRUTs

Stephen M. Breitstone, head of Meltzer Lippe’s Private Wealth & Taxation Group, co-authored, with Jerome M. Hesch and David C. Jacobson, an article published in …

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Madoff Victims Who Paid Taxes on Scheme Seek Refunds

By Stephen M. Breitstone and José L. Berra Ponzi scheme has paid it now seems never existed. (1) The question now is whether these victims can get …

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DIEBOLD and the Not So Beautiful: Transferee Liability Trumps Tax Shelter

The Second Circuit, in Diebold v. Commissioner, describes the requirements for finding transferee liability under Section 6901, here specifically under New York law, as state law predominates the determination of whether a person will be liable for federal taxes as a transferee. This case involved a so-called “Midco”transaction, whereby the goal was to avoid the corporate level taxes on the disposition of the assets of a C-corporation.

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Section 1031 “like-kind” exchanges – Use of Tenants in Common to “Pool” Capital and to Create Liquidity

When the IRS issued Rev. Proc. 2002-22, 2002-1 CB 733, it provided a degree of guidance as to when a tenants in common arrangement (“TIC”) would not be treated as a partnership for Federal income tax purposes. This guidance has greatly expanded the utility of IRC section 1031, which provides for non-recognition of gain on exchanges of property of a “like kind” held for use in a trade, business or investment.

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IRS Expands Tax-Free Exchanges of Real Estate

In our practice and in the real world, it is usually easier to purchase real estate than to sell real estate. This often presents real world difficulties for businesses seeking to take advantage of the “like-kind” exchange provisions under section 1031 of the Internal Revenue Code.

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