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June 11 2018
What to Look for With Contractor Fraud Cases on the Rise

Construction contractors are an integral part of both the residential and commercial construction industry, but fraud among contractors is on the rise. In a recent notable case in Washington DC, a home improvement contractor was found guilty of defrauding customers through a series of bad acts, including but not limited to taking payment from government

June 05 2018
6 IRS Audit Red Flags for Schedule C Form 1040 Filers

By Alexis Lyn Hailpern If you’re running your own business, the sky’s the limit when it comes to generating revenue and attracting new customers. Just be sure while you’re doing so that you’re not also attracting undue notice from the IRS. If you file a Schedule C for income and related business deductions, be aware

May 22 2018
Transforming the Family Office for Greater Digital Efficiency

By Karen Herklotz From managing trusts to overseeing multiple businesses, investments, and properties, the needs of the family office vary widely. However, one thing family offices have in common is the need to create better efficiencies in the way they manage business assets and communicate with one another. What happens when family members and advisors

May 07 2018
Historic Tax Credits for Building Renovations Survive Tax Reform, With Some Changes

By Allan Peiser During deliberation of the Tax Cuts and Jobs Act, tax credits for the renovation of historic buildings faced an uncertain future. Now many real estate industry professionals are relieved that the valuable 20 percent historic tax credit (HTC) was left intact—if slightly altered. By retaining the HTC, Congress recognized that incentivizing the

April 24 2018
Supreme Court to Rule on Digital Sales Tax

Is it Time to Kill Quill? State government leaders are well-acquainted with a 1992 Supreme Court decision that prohibits states from collecting sales tax on vendors lacking an in-state physical presence. The case, Quill Corp v. North Dakota, has triggered arguably the most robust state and local tax-related activity in the last two decades, with

April 17 2018
IRS Halts Offshore Voluntary Disclosure Program

Amnesty to End for Affected Taxpayers with Foreign Financial Assets The IRS has announced it will discontinue its Offshore Voluntary Disclosure Program (OVDP) on Sept. 28, 2018. The program, which was intended as a temporary amnesty program for taxpayers who willfully failed to report foreign financial assets, has existed in some form since 2009. By

April 10 2018
How Coworking Spaces are Reshaping Commercial Real Estate Decisions

Dallas Coworking Spaces Soar to Meet Demand The concept of shared office space originated in 1995 when a commercial office building in New York City began to offer desks that could be rented for short leases. By 2005, the first official coworking spaces – defined as working spaces often occupied by employees from different companies

April 03 2018
New Lifetime Estate and Gift Tax Exemption Offers Flexibility to Family Business Owners

By Michelle Johnson When Congress enacted the Tax Cuts and Jobs Act (the Act) in December 2017, one of the most significant changes was made to estate and gift tax law. Family businesses stand to benefit from these changes, especially as they affect family business succession planning.   Overview The massive tax reform package doubled

March 27 2018
Blockchain-Based Smart Contracts to Transform the Commercial Real Estate Industry

Big data analytics. Artificial Intelligence (AI). Blockchain. All of these technology advances are transforming industries across the globe. While these technologies were once viewed through a futuristic lens, the reality is that advances like blockchain technology are already making a significant impact on the commercial real estate industry. Background As we communicated in an earlier