Foreign Investment in Real Property Tax Act (FIRPTA) – What You Should Know

[caption id="attachment_1269" align="aligncenter" width="1000"] Foreign Investment in Real Property Tax Act (FIRPTA) - What You Should Know[/caption] The Foreign Investment in Real Property Tax Act, also known as FIRPTA, is a tax act that has been around since the 1980’s. This act is designed for the government to protect property interests in the United States, therefore regulating foreign investments in…

Implications of State Transactions & Nexus

One of the main goals for a taxpayer is to increase his revenue. Two of the main areas, for a business to achieve this, are to expand its customer base into various states and to provide customer service. This could mean that the taxpayer might perform various kinds of transactions to expand the business’ influence in a state. Depending on…

Like-Kind Exchanges: Defer Part (Or All) Of Your Gains From Investments Sales

Have you been looking to sell your investments? Are you aware that you could defer part, or all, of the gain by exchanging your investment with a similar one? [caption id="attachment_1193" align="alignright" width="300"] Like-Kind Exchange[/caption] The Internal Revenue Service (IRS) provides a benefit, known as Section 1031 – Like-kind Exchanges, for taxpayers that reinvest proceeds from selling certain kinds of…