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RenuKrete Solves Difficult Flooring Problem for Condo Complex in Short Order
The management team at Baridge House, a 17-story condominium building in Hackensack, called on RenuKrete to repair and transform two garage hallway floors. Once the integrity of the concrete floor below the tile was established, the RenuKrete team turned its attention toward the aesthetics of the concrete floor and began to install the tile patterns into the existing slab, revealing the unexpected beauty of the previously inconspicuous concrete.
QOZ’s vs. 1031 Exchanges – Which is Better for Real Estate Investments?
When the Tax Cuts and Jobs Act was passed, a new tax deferral vehicle was created where taxpayers could defer paying tax on capital gains income by reinvesting these gains into Qualified Opportunity Zones (QOZ’s) through an investment into a Qualified Opportunity Fund (QOF). This new provision in the Internal Revenue Code has many taxpayers curious as to how they may be able to benefit from QOZ’s. With this curiosity, the question of whether QOZ incentives are better than Section 1031 exchanges for real estate reinvestments is often asked. The answer to this question is “it depends” on the specific facts and circumstances of your particular tax situation. This article will focus on the positives and negatives when comparing these types of tax deferred reinvestments to assist in drawing some conclusions.
Sax White Paper: Qualified Opportunity Zone Investments – A Summary of the Updated Regulations
It’s been very well publicized that the Tax Cuts and Jobs Act (TCJA) enacted a new opportunity to incentivize real estate investment and development in low-income communities across the country. In October of 2018, the IRS published proposed regulations on this program that provided direction to taxpayers, although many questions were left unanswered. In April of 2019, the IRS sought to address many of those questions by publishing a second set of proposed regulations which provided needed clarity on conducting an operating business within a Qualified Opportunity Zone (QO Zone) and structuring a Qualified Opportunity Fund (QO Fund).
Changes coming to long-term tax exemption statute
Several bills affecting the long-term tax exemption statute are slowly making their way through the New Jersey Legislature. While each bill addresses different provisions of the statute, the common theme among them is one of restrictiveness.
Prepping Real Estate Firms for an Economic Downturn
Some experts say there is a good chance an economic downturn or recession will happen within the next two years, making it logical to begin bolstering protections. What steps can real estate professionals take now that will help them get through a recession and come out the other end even stronger?
