The proposed tax legislation coming out of House Ways and Means addresses a long running dispute between sponsors of low income housing tax credit deals and investors. The legislation favors the sponsors. To understand the issue I need to briefly explain how the credit works. Overview Of The Credit The owner of the building, typically a partnership,
Month: September 2021
Partner at Peak State Ventures and Co-Founder of 42Floors. Investing in entrepreneurs changing the world. When I started 42Floors in 2011, I just wanted to make the best commercial real estate search engine. The nascent real estate startup industry, now referred to as “proptech” (property technology), was tiny. Most people told me that real estate was a horrible
Former Food and Drug Administration Commissioner Dr. Mark McClellan told CNBC that it seems realistic that younger kids will be getting vaccinated for Covid-19 based on the new data released by Pfizer on Monday. “Those findings are very promising, especially around the ability of a very small dose, leading to a very strong immune reaction,”
U.S. stock futures were about flat in overnight trading on Monday following a major sell-off on Wall Street that resulted in the S&P 500’s worst day since May. Dow Jones futures lost 12 points. S&P 500 futures shed less than 0.1% and Nasdaq 100 futures were about flat. The major averages tumbled on Monday due
In this article TSLA Jeff Bezos, left, and Elon Musk Getty Images; Reuters The wealthiest Americans may be dodging as much as $163 billion in income taxes every year, according to the U.S. Department of the Treasury, and many leverage tax laws to do it legally, financial experts say. Although U.S. levies increase with income,
I recently attended a celebration of life for a good friend who passed. It got me thinking about the widow’s penalty and what it means for the surviving spouse, beyond the nightmare of losing a spouse and companion, of course. It is common for spouses to leave their life savings to each other. Yes, there
What state taxes apply if you are stuck in California or another state during the pandemic? Do you pay tax where you shelter in place, even if you don’t normally live there? Do you pay tax in your home state, even though you are not sheltering there? Do you get stuck paying in both? Some
Kirkland, Washington, the Seattle suburb that had one of the nation’s first clusters of Covid-19 cases at its Life Care Center nursing home early last year, led the U.S. for home-flipping profits during 2021’s second quarter, according to an AATOM report ranking the nation’s zip codes. A typical home flip in the 98033 zip code,
Dr. Scott Gottlieb, former Commissioner of the Food and Drug Administration, speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 15, 2021. Brendan McDermid | Reuters Former Food and Drug Administration Commissioner Dr. Scott Gottlieb said U.S. intelligence agencies should be tasked with investigating emerging public health threats
In this article WISE-GB The Wise logo displayed on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket via Getty Images LONDON — British financial technology firm Wise debuted an investments feature Tuesday that lets users invest in stocks through multiple currencies and spend their holdings. The new feature, called Assets, allows customers to
An artist’s illustration of the Axiom modules attached to the International Space Station. Axiom Space The National Aeronautics and Space Administration plans to retire the International Space Station by the end of this decade, so the U.S. space agency is turning to private companies to build new space stations in orbit – and expects to
Chip Somodevilla | Getty Images News | Getty Images A tax package unveiled by House Democrats would forbid individual retirement accounts from holding certain private investments typically reserved for the wealthy. While proponents think the proposal would raise investor protection and reduce an the use of an IRA as a tax shelter for the rich,
Women study, earn, and work more than they did 100 years ago – a sign of progress in the fight against sex discrimination. However, women with equivalent skills and education still earn less than men, which adds up to much worse retirement security in old age. As a result of lower lifetime earnings, lower retirement
Employees with stock options in a private company face a big obstacle that employees in public companies do not: you cannot sell the stock to fund the exercise price and any taxes. For insights on what you can do, and the growth in firms that provide financing to exercise private company stock options, I turned
Matt Avital is the Principal & Founder of Ascenda Capital, located in Los Angeles, CA. Surprisingly, the loan program that provides multifamily property owners with the longest amortization, the highest leverage and often the lowest interest rate is a program that is not well known even by many of the industry’s top players. In the multifamily
People arrive at the John F. Kennedy Airport in New York on March 13, 2020. in New York City. Pablo Monsalve | Corbis News | Getty Images The U.S. is planning to ease travel restrictions for international visitors who are vaccinated against Covid-19, including those from the U.K. and EU, the White House said Monday.
In this article CFG CPE A syringe is filled with a dose of Pfizer’s coronavirus disease (COVID-19) vaccine at a pop-up community vaccination center at the Gateway World Christian Center in Valley Stream, New York, U.S., February 23, 2021. Brendan McDermid | Reuters Check out the companies making headlines before the bell: China Evergrande Group
fizkes | iStock | Getty Images Your 401(k) plan may have seen better days. A flurry of market risks have stocks in the red this week, with the Dow Jones Industrial down 500 points on Monday, or 1.4%. At the same time, the S&P 500 has shed 1.5%. But as uncomfortable as it can be
Some headlines are sure to draw eyeballs. Case in point, each time the Social Security Administration issues its annual report, there will be a series of articles discussing the fact the that the Social Security trust fund will run out of money. The attention is especially likely in years like this one where the time
On September 3 the Texas Supreme Court agreed to hear Sirius XM Radio, concerning whether the state properly apportioned the taxpayer’s activities within the jurisdiction for purposes of calculating its franchise tax liability. While there are several issues in play, the critical one is whether the state’s interpretation of the relevant statutes in this case is contrary to the
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