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Tax Planning Senior Housing

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Property Tax Exemptions for Senior Living Facilities: Application Deadline is March 1, 2024

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The 2024 exemption deadline is almost upon us! As with every year here in Florida, the property tax exemption application deadline falls on March 1. So it is again time for senior living facilities around the state to...more

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Too Good To Last? IRS Halts Processing of ERC Claims

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While not as well-known as the Paycheck Protection Program, the Employee Retention Credit (“ERC”) program was another form of Covid relief provided by the federal government to businesses in 2020 and 2021. The ERC program...more

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Have a Partnership? March 15th Deadline Offers a Window of Opportunity

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Many senior housing properties are owned by limited liability companies or other entities that are taxed as partnerships for federal income tax purposes. The March 15th deadline for filing federal partnership tax returns is...more

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Property-Tax Exemptions for Senior-Living Facilities: Application Deadline is March 1, 2022

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While these last two years have often caused individuals to forget the day or month we are in, one thing hasn’t changed: deadlines. It is again the time for senior living facilities around the state to evaluate whether the...more

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Act Before Year End to Maximize Opportunity Zone Benefits

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If you are planning to acquire or build a senior living facility that is located in an opportunity zone, there are many tax benefits that are available to you. One of these benefits is that 10% of the capital gains that you...more

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Qualified Opportunity Zones A Brief Primer

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If you are planning to acquire or build a senior living facility that is located in an opportunity zone, there are many tax benefits that are available to you. One of these benefits is that 10% of the capital gains that you...more

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Have an Open Like-Kind Exchange? Don’t Fall Into This Trap

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A common tax planning tool for real estate transactions is to engage in a like-kind exchange of real estate.  If structured properly, a taxpayer can sell real property (the relinquished property) and replace it with new...more

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Industry News Briefs

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Happy New Year! Did I Miss My Chance at Opportunity Zones? Opportunity zones were introduced in 2017 as part of President Trump’s tax reform bill. Taxpayers with capital gains can receive several tax benefits if the...more

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Before 2018 Ends, Be Sure Your Partnership Agreements Are Up To Date

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As 2018 comes to a close, it is important to make sure that your partnership and LLC agreements reflect the new tax law that went into effect on January 1, 2018. For all tax years beginning on or after January 1, 2018, the...more

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Property Tax Exemptions for 2019

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Now is the time for senior living facilities around the state to evaluate whether the facility is eligible for any property tax exemptions for 2019. Exemption applications are due with the respective County Property Appraiser...more

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