Year-end Tax Strategies Today’s e-mail brought a message from our 1031 industry organization, The Federation Of Exchange Accommodators. Mind Numbing “On November 21 the Senate Finance Committee (SFC) dropped their tax reform bombshell. Within in their report, Staff Discussion Draft: Cost Recovery and Accounting, the like-kind exchange rules are repealed. Since this is a staff […]
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Single member LLC or Multiple member LLC?
The IRS requires that properties purchased in an exchange be purchased by the same taxpayer. They could be held in the taxpayer’s name, a land trust or a single member LLC. The IRS has also ruled that LLC with two members will be considered a single member if the sole right of one of the […]