James Brennan's (jamesbrennan2) Blog

Unsuspecting commercial investors are driving to the bank to turn in their keys on projects that did not workout as planned and waking up the following year with an unexpected tax headache. The discharge of the loan can result in a capital gains tax liability. Not only did the clients lose whatev...

For those who saw their exchange funds evaporate due to a QI declaring bankruptcy, yet still owed taxes on capital gains, Rev. Proc. 2010-14 may provide a much needed solution. Previously, taxpayers who fell victim to a QI default, were obligated to recognize the “gain triggered upon transfer of...

There are times when an investor may want to sell one of his properties and invest its proceeds in another he owns. In the past the IRS forbade 1031 exchanges in such cases, however, today there are means around it. It is known as an “advanced built to suit” transaction and though it has never b...

Though it may seem unlikely, there is an area of commercial real estate which is actually flowering. Headed by companies such as Passco, Inland, and American Realty Capital, “syndication” is becoming a widely popular financing and investment vehicle. Syndication takes advantage of Delaware Statut...

Many know that the estate tax expired in 2010; however, unless you are fortunate enough to die this year, this expiration will mean nothing. What most stakeholders are banking on is lawmaking that may never happen. Without replacement legislation, the estate tax will make a vigorous return in 20...