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By Andrew L. Gradman When a seller is paid over several years, she may be eligible to report some of the gain pro rata with each installment, rather than all at once. See IRC §453(c) (installment method defined). However, the installment method is not always available. In some cases, installment treatment is denied because of […]

By Andrew Gradman Published at www.gradmantax.com on August 17, 2020. This article is intended for general information only and does not constitute legal advice. Every investment must be evaluated on its specific facts, and every investor should seek tax advice tailored to his or her individual circumstances.   SUMMARY This article describes an incentive to […]

IT’S TIME TO FILE YOUR TAX RETURNS! On June 29, 2020, the Internal Revenue Service announced that the tax filing deadline of July 15 will not be postponed. Thus, individuals, trusts, estates, C-corporations, and others with an April 15 deadline who filed for an extension on or before July 15, 2020 will have until October […]

Please note that Sales and Use Tax rates changed in California Cities and Counties  are effective July 1 2020.   Be sure to visit the CDTFA to determine the appropriate tax rates for your transactions. https://cdtfa.ca.gov/taxes-and-fees/rates.aspx As always, please feel free to reach out to us with any questions!

By Andrew Gradman, Esq. An earlier version of this article was published by California Continuing Education of the Bar (CEB.com) on June 25, 2020 On May 29, 2020, the California Secretary of State announced that the California Schools and Local Communities Act of 2020 qualified for the November ballot.  The measure would create a “split […]

Deadlines for Qualified Opportunity Zones (IRC §1400Z-2), Like-Kind Exchanges (IRC §1031), Deadlines for Involuntary Conversion (IRC §1033), Deadlines for Low-Income Housing Tax Credits (LIHTC): the final part of a six-part series titled Real Estate Tax Tips During the Coronavirus Pandemic which describes selected deadline extensions and tax refund opportunities relating to real estate and the coronavirus pandemic.

Business Interest Limitation & Method for Amending Returns: the fifth of a six-part series titled Real Estate Tax Tips During the Coronavirus Pandemic which describes selected deadline extensions and tax refund opportunities relating to real estate and the coronavirus pandemic.

Depreciation of Qualified Improvement Property (QIP): the fourth of a six-part series titled Real Estate Tax Tips During the Coronavirus Pandemic which describes selected deadline extensions and tax refund opportunities relating to real estate and the coronavirus pandemic.

Limitation on Excess Business Losses (IRC §461(l)): the third of a six-part series titled Real Estate Tax Tips During the Coronavirus Pandemic which describes selected deadline extensions and tax refund opportunities relating to real estate and the coronavirus pandemic.

Net Operating Loss (NOL) Carrybacks (IRC §172): The second of a six-part series titled Real Estate Tax Tips During the Coronavirus Pandemic which describes selected deadline extensions and tax refund opportunities relating to real estate and the coronavirus pandemic.