Sax LLP is set to move later this year to its new headquarters in Parsippany, where it’s leasing nearly 40,000 square feet within a revitalized office campus.
Sax LLP has entered into a joint venture agreement with a technology company, as it looks to bolster its own capabilities while enhancing services for clients.
One of the state’s top accounting firms will debut its new headquarters this summer, when it moves to a soon-to-be-transformed, two-building office campus in Parsippany.
Office tenants continued their flight to new and improved spaces as 2019 came to a close, furthering the case for landlords to upgrade or redevelop New Jersey’s aging stock of buildings.
Sax LLP has acquired a New York-based accounting firm as part of a move to expand its footprint beyond its home state of New Jersey.
Within the Real Estate world, by now we know that the Tax Cuts and Jobs Act enacted a new opportunity to incentivize real estate investment and development in low-income communities across the country through Qualified Opportunity Zones (“QO Zones”). These designated low-income housing income tracts in the United States (and Puerto Rico) allow investors who previously recognized a taxable gain to defer it by investing the gain proceeds into a Qualified Opportunity Fund (“QO Fund”).
The sweeping tax reform brought on by The Tax Cuts and Jobs Act is now in effect, but many Real Estate owners and investors remain in the dark on how these changes will impact their businesses. With that, Sax’s Real Estate advisors will hold an educational webinar on March 19 to run through the major changes facing the Real Estate industry overall now that tax reform has been implemented, and proposed guidance has been released.
When it comes to new construction, federal tax reform has left many developers with a choice to make: maximize their business interest deductions or take advantage of accelerated depreciation.