Tax Law Tips

3 03, 2021

Exchange Period for 1031 Exchanges

2021-03-03T23:56:35+00:00March 3rd, 2021|Tax Law Tips|

March 2021

Monthly Tax Law Tip

If you are doing a 1031 exchange, your exchange period ends on the earlier of: (i) 180 days after the close of the sale of the relinquished property, or (ii) the next due date for your tax return. That means that, if your sale closed after October 17, you will need to file for an extension of Continue Reading

4 02, 2021

Real Estate Owned by an Entity Can be Reassessed Due to Change in Control or Ownership

2021-02-04T23:11:54+00:00February 4th, 2021|Tax Law Tips|

February 2021

Monthly Tax Law Tip

Real estate owned by an entity can be reassessed for California property tax purposes even with no transfer of the property. A transfer of interests in the entity resulting in a change in control or a change in ownership of the entity can result in reassessment even if the entity continues to own the real estate.

14 12, 2020

Proposition 19 Tips

2021-01-09T01:04:58+00:00December 14th, 2020|Tax Law Tips|

December 2020

Monthly Tax Law Tip

“Beginning February 16, 2021, Proposition 19 will dramatically limit the exclusion from property tax reassessment for transfers between parents and children, and grandparents and children. If you plan to take advantage, don’t wait to consult your tax advisor or estate planning attorney.”