Inthe summer of 1990, the Internal Revenue Service announced the long awaited rules on Tax Deferred Exchanges. Section 1.1031 of the IRS Code laid out in detail the procedure for turning a sale and purchase type transaction into an Exchange. The revised rules allow owners of certain types of “like kind” real estate to sell … Read more
Learned Hand earned the distinction as the “tenth Justice of the Supreme Court” by penning opinions that would be quoted by lawyers and laymen alike. In 1934, Circuit Court of Appeals Judge Hand wrote one of his more famous though often misquoted opinions in Helvering, Commissioner of Internal Revenue v. Gregory, 69 F.2d 809 (2d … Read more
As a landlord, one of your most important responsibilities is to manage your tenants. This means two things: 1) getting monthly payments on-time and in-full, and 2) making sure your property is being taken care of. Generally, property owners who fail are the ones who cannot accomplish one or both of these tasks. They either … Read more