Written by Jon Porcelli Senior Tax Manager In the scope of real estate investment, a 1031 exchange (like-kind exchange) stands out as a key strategy for deferring capital gains taxes through the swap of one investment property for another. This approach, rooted in Section 1031 of the Internal…
Starting September 5th, 2023, New York City introduced significant changes to its regulations governing short-term rentals, particularly affecting Airbnb, VRBO and short-term rental hosts. These new regulations will significantly affect New York City short-term rental hosts. New York City has long been a popular destination for travelers,…
Written by Sammy Habbaz, Senior Accountant In last month’s Bottom Line newsletter, LMC senior accountant, Sammy Habbaz, discussed the tax benefits of investing in real estate. In our previous article, we spoke about two ways to make real estate losses active. The average customer use…
