News & Analysis as of

Tax Liability Rental Property

Bennett Jones LLP

Update: Draft Legislation on Landlord Tax Liabilities Provides Relief for Residential Tenants

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Since the publication of our blog, Tenants Beware: The Risks of Landlord Tax Liabilities, draft legislation released by the Department of Finance on August 12, 2024, has proposed a change to the Income Tax Act (Canada) (the...more

Seyfarth Shaw LLP

DC Sources New Revenue From Assignments of Long-Term Leases

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On May 17, 2024, the District of Columbia Office of Tax and Revenue (OTR) published a notice summarizing the District of Columbia’s current policy regarding the recordation and transfer tax treatment of an assignment of a...more

Lowndes

Real Estate Tax Considerations for Landlords and Tenants

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It is customary for landlords to require their tenants to pay real estate taxes attributable to the landlord’s property being leased, along with other common area expenses like maintenance, insurance and the like. When there...more

Strafford

[Webinar] Tax Considerations for Foreign Rental Property: Holding Structures, Reporting Rental Income and Expenses, FTCs - March...

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This course will discuss the considerations and caveats of U.S. residents owning foreign rental property. Our seasoned panel of international tax experts will explore U.S. and foreign holding structures, residential and...more

Bennett Jones LLP

Tenants Beware: The Risks of Landlord Tax Liabilities

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A recent ruling from the Tax Court of Canada underscores the significance of tenants verifying their landlords' residency status in adhering to any obligations to withhold taxes in accordance with Part XIII of the Income Tax...more

Lowndes

New Law Reduces Florida’s Sales Tax Rate on Commercial Rent

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Effective December 1, 2023, the State of Florida’s sales tax rate on commercial real property lease payments (including base rent and additional rent) will be reduced from 5.5% to 4.5% for payments received for occupancy...more

Coblentz Patch Duffy & Bass

Landlords File Lawsuit Challenging Legality of San Francisco’s Empty Homes Tax

Local landlords and owner-groups filed a lawsuit in San Francisco Superior Court last week in response to the recently-passed Proposition M, also known as the Empty Homes Tax Ordinance. We previously covered the new San...more

Coblentz Patch Duffy & Bass

Voters Approve San Francisco’s Empty Homes Tax and Oakland’s Expanded Residential Eviction Protections

Voters in San Francisco and Oakland approved two measures with significant implications for residential property owners: San Francisco’s Proposition M, also known as the Empty Homes Tax, and Oakland’s Measure V, which expands...more

Freeman Law

Tax Court in Brief | Rogerson v. Commissioner | Passive Income, Rent of Yachts, and Reliance on Competent Tax Counsel

Freeman Law on

Tax Litigation: The Week of May 9th, 2022, through May 13th, 2022 Lewis v. Commissioner, TC Memo. 2022-47| May 9, 2022 | Greaves, J. | Dkt. No. 10007-20W Jackson v. Comm’r, T.C. Memo. 2022-50 | May 12, 2022 | Vasquez, J. |...more

Neal, Gerber & Eisenberg LLP

IRS Concludes Many Airbnb-Style Rental Arrangements Are Subject to Self-Employment Tax

The ongoing COVID-19 pandemic has caused many individuals to reevaluate vacation destinations and where they choose to work. Why work in snowy Chicago during the winter months when you can perform the same work remotely in a...more

Hogan Lovells

Teil 2: Photovoltaik – Wissenswertes für den Eigentümer einer Gewerbeimmobilie

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Dieser Beitrag befasst sich mit den Besonderheiten, auf die ein Eigentümer einer gewerblich genutzten Immobilie bei dem Betrieb einer Photovoltaikanlage achten muss, damit das Investment nicht nur ökologisch, sondern auch...more

Freeman Law

The Tax Court in Brief - February 2021

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Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose. The Week of January 25 – January 29, 2021 - Costello v. Comm’r, T.C....more

Foster Garvey PC

Online Travel Update: Accor and Marriott’s interest in short-term rental interest grows; new tax claims filed against OTAs in...

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This week’s Update features a heavy dose of short-term rentals as the long-awaited Airbnb IPO finally arrives and many hoteliers seek to capitalize on growing (COVID-induced) traveler demand in this segment. Enjoy....more

Bilzin Sumberg

Decrease in Florida Sales Tax on Commercial Rent

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Effective as of January 1, 2020, the Florida state sales tax rate applicable to the lease of commercial real property has decreased from 5.7% to 5.5%.  Therefore, the state will levy a 5.5% sales tax on all rent collected...more

Goulston & Storrs PC

REIT Issues for Retail Leasing Professionals

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As retail leasing continues to evolve, real estate investment trust (REIT) landlords, retail tenants and the business / advisory teams on both sides will want to ensure that REIT issues are surfaced and negotiated before the...more

Robins Kaplan LLP

Financial Daily Dose 7.29.2019 | Top Story: Pfizer and Mylan Join Forces to Create Generics Powerhouse

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Drug giants Pfizer and Mylan have inked a deal that will merge the former’s off-patent drugs with the latter’s generics business, a tie-up that creates a mammoth global seller of lower-priced medicines....more

Foodman CPAs & Advisors

Do you own a second home or a vacation home that you rent out?

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Rental income is reportable on a Taxpayer’s tax return. Certain expenses such as mortgage interest, real estate taxes, casualty losses, maintenance, utilities, insurance, and depreciation may be deducted from a Taxpayer’s...more

Gray Reed

Do I Owe Income Taxes When I Rent Out My Home?

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Over the summer, Brad Bevos’ company relocated him from Austin to Springfield, Illinois. A University of Texas alum and huge Longhorn football fan, the move bummed Brad because he won’t be able to attend home games this...more

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