For as long as I can remember, the mainstream media has claimed that wealthy Americans and corporations don’t pay their “fair share” of taxes. You’ve heard this, of course, as well. But is it really true? Let’s take a look. Since progressives believe that the wealthy and corporations do not pay their fair share of…
Betty Friant, Senior Vice President overseeing the Washington, DC office of Kay Properties recently interviewed CEO and Founder, Dwight Kay about a very important topic for anyone thinking of doing a 1031 Exchange in the last quarter of the year. Betty Friant: So, Dwight. Thanks for taking the time to go over a critical…
When selling real estate investment property, investors generally have two options: Pay the taxes on any gains from the sale, or, Conduct a 1031 exchange and defer the taxes owed. Recently, because of the financial uncertainty surrounding 01and the overall state of the economy, some investors are choosing to pay the taxes on any…
I have recounted how ideas coming from California’s progressive politicians are not just destructive, but also how most result in outcomes diametrically opposite of what the left actually thinks they will have. Examples of this phenomenon are legion.
When I began practicing law as a tax lawyer (many years ago!), I thought my job was to help my clients save taxes. However, my mentor soon straightened me out. He helped me realize that a lawyer’s job was to help clients realize their goals, for themselves and their families. Of course, the less they…
No one disputes that California has a big budget surplus. According to the Office of the Legislative Analyst, California has budget reserves in excess of $18 billion. Our budget reserves exceed the entire state budget of eighteen other states. One would think that the funds available for discretionary spending would chill any appetite for higher…
Last July, we wrote a column regarding the foolishness of Senate Bill 2, a new $75 tax on real estate recordings, ostensibly for the purpose of funding housing programs. We pointed out that imposing a tax on real estate transactions to pay for programs to make housing more affordable is like treating someone with a…