Category Archives: Property Transactions

Avoiding Boot Gain in Like Kind Exchanges

Posted on August 4, 2014 by David L. Silverman, J.D., LL.M. (Taxation)

I. Introduction Circular 230 disclosure: Any tax advice herein is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code. … Continue reading →

Posted in Avoiding Boot, Capital Gains, Federal Income Tax, IRS, IRS Audits, Like Kind Exchanges, Like Kind Exchanges of Real Estate Under IRC Sec. 1031 (2013 Revised Ed.), Like Kind Exchanges of Real Estate Under IRC Section 1031, Tax Planning | Tagged , , , , , , , , , , , , , , , | Leave a comment

Tax News & Comment — May 2013

Posted on May 3, 2013 by David L. Silverman, J.D., LL.M. (Taxation)
Posted in Asset Protection, Asset Protection Trusts, Criminal Penalties, Delaware Asset Protection Trusts, Divorce, Estate Litigation, Exclusion of Gain From Sale of Residence, Executor and Trustee Commissions, Federal Tax Litigation, Fiduciaries, Litigation, New York Criminal Tax, New York State Income Tax, NYS Dept. of Tax'n & Finance, NYS Penalties, NYS Tax Litigation, NYS Tax Litigation, Prenuptial Agreements, Property Transactions, Tax News & Comment, Treatises | Tagged , , , , , , , , , , , , , , , | Leave a comment

Tax Planning For Divorce

Posted on May 3, 2013 by David L. Silverman, J.D., LL.M. (Taxation)

   I.   Introduction.  In an action for divorce, property is subject to “equitable distribution” pursuant to Domestic Relations Law (DRL) §236. New York distinguishes between “marital” property, which is subject to equitable distribution, and “separate” property, which is not. The … Continue reading →

Posted in Asset Protection, Divorce, Exclusion of Gain From Sale of Residence, Tax Planning | Tagged , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Timing of Income and Deductions

Posted on March 15, 2010 by David L. Silverman, J.D., LL.M. (Taxation)

The timing of income and deductions is of paramount importance in taxation.  Just as a dollar today is worth more than a dollar a year from now, so too is a current deduction worth more than a future one, and … Continue reading →

Posted in Property Transactions, Timing of Income and Deductions | Leave a comment

Regs Permit Flexibile Basis in Stock Sales

Posted on March 15, 2010 by David L. Silverman, J.D., LL.M. (Taxation)

Normally, when one disposes of property, realized gain or loss is directly dependent upon basis.  Being closely related to initial cost, basis is a tax attribute over which the taxpayer generally has little control at the time of the property’s … Continue reading →

Posted in Property Transactions | Leave a comment

Taxation of Property Transfers

Posted on March 15, 2010 by David L. Silverman, J.D., LL.M. (Taxation)

The Internal Revenue Code taxes “gains derived from dealings in property.” However, two types of gains exist, and the Code taxes only one. “Realized” gains are not subject to taxation. This type of gain represents net appreciation in property that … Continue reading →

Posted in Property Transactions, Timing of Income and Deductions | Leave a comment

Short Stock Sales

Posted on March 15, 2010 by David L. Silverman, J.D., LL.M. (Taxation)

Currently, taxpayers can sell short securities which they own, and in so doing lock in economic gain but defer taxable gain indefinitely. Stocks exhibiting significant downside potential may be attractive candidates for short sales. To consummate a short sale, an … Continue reading →

Posted in Short Stock Sales, Tax News & Comment | Leave a comment