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Make §1031 Like-Kind Exchanges Work for You

In spite of recent news reports showing that IRC §1031 is under attack (see our last update and a subsequent New York Times article),  the §1031 like-kind exchange remains a popular and viable strategy for deferring the entirety or a portion of capital gains taxes that would be due upon the sale of  appreciated value of certain classes of […]

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Cathleen Bahan Consulting

Non-U.S. Taxpayers Selling U.S. Real Estate Should Prepare for Higher Withholding

Non-U.S. Taxpayers who sell U.S. real estate holdings may be subject to withholding of 15% of the gross sales proceeds beginning February 16, 2016 under a provision of the “Protecting Americans from Tax Hikes Act of 2015.”  Previously 10% withholding was required for transactions over $300,000.  The new law requires 15% withholding on most transactions, […]

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Cathleen Bahan Consulting

NYS PEC Newsletter 2015: Labor & Employee Benefits Law

In this issue: Agency Shop Fees IRS Letter Requests Wellness Programs Bargaining Over the Cadillac Tax Click to read this newsletter.

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Cathleen Bahan Consulting

Engaging the Inevitable: Considering Your Estate Plan

Nobody wants to think about the end of life, but everyone experiences it.  Having a solid estate plan in place before you get to that point can give you peace of mind that your wishes will be honored, both for your own end of life care and for distribution of your property after your passing.  […]

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Cathleen Bahan Consulting

Plan Now to Realize §1031 Capital Gains Deferment

Successful execution of an IRC Section 1031 Like-Kind Exchange has always required careful planning.  In order to enjoy the benefit of deferred capital gains taxes on the sale of commercial or investment property, a timeline must be followed carefully, appropriate filings must be made, etc. (see our §1031 Overview for details). Now, although §1031 Like-Kind Exchanges […]

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Cathleen Bahan Consulting

Eye on Estate Planning

In this HOH update, we focus on one of the most complex and least understood aspects of creating enduring financial security:  estate planning.  Below are links to news items and articles from trusted third party sources that address timely developments and potential opportunities in estate planning.  If any of them pique your interest – either for […]

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Cathleen Bahan Consulting

NYS PEC Newsletter 2014: Labor & Employee Benefits Law

In this issue: Reinsurance Fees IRS Cumulative List for Retirement Plans Cycle E Period Starting Feb. 1 New COBRA Model Notices Issued Click to read this newsletter.

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Cathleen Bahan Consulting

Non-Resident Aliens and the Sale of U.S. Real Property

Introduction The relatively weak value of the U.S. dollar, the stability of the U.S. political system, and the comparatively low price of real estate, among other reasons, attract significant foreign investment in U.S. real property. However, non-resident aliens (NRAs) should be aware of certain provisions of the notoriously aggressive U.S. Internal Revenue Code (IRC). One […]

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Cathleen Bahan Consulting

Avoid the Estate Tax Cliff with Proactive Planning

Introduction On April 1, 2014, the New York State (“NYS”) legislature gave New Yorkers an estate tax gift by agreeing to increase the NYS estate tax exclusion amount over the next five years. This means that the value of an estate that can pass free of NYS estate tax will eventually increase until it matches […]

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Cathleen Bahan Consulting

IRC §1031 Like-Kind Exchange: Versatile Tax Deferral Strategy for Real Estate Investment Gains

Introduction The income tax due on the proceeds of the sale of property held for investment purposes is generally payable during the applicable tax year. However, §1031 of the Internal Revenue Code (“IRC” or “Code”) provides a valuable mechanism to defer the payment of such taxes and is commonly referred to as a “like-kind exchange.” […]

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Cathleen Bahan Consulting

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