Connections for Success


Real Estate


Mixing Business and Pleasure: Tax Implications of Personal Use Rental Properties
Kathy Z. Jeziorski

If you own a vacation home or other residence that you rent out to others when you are not using it, it is important to understand the tax treatment of these properties. In some cases, small adjustments in the mix of personal and rental use can have a significant impact. Three Scenarios Residential properties generally […]


The Real Estate Industry Awaits a Return to Normalcy and Focuses on Tenants, not Valuations
Stephanie M. Zaleski-Braatz

One thing that the real estate industry has had to learn from the economic cycles of the past three decades and from crises like the savings and loan collapse is patience. On the surface, the global pandemic seems to have had a uniform impact on the global economy — the tendency is to look at […]


Using Data Analytics to Gain a Competitive Edge and Boost Tenant Satisfaction
Joy A. Long

In today’s digital world, individuals and businesses are constantly generating massive amounts of data, providing valuable opportunities to those who understand and can harness it for their benefit. For example, commercial real estate businesses can tap a wide variety of data sources to increase tenant satisfaction and, in turn, improve lease renewals, occupancy rates and […]


Consider a Turnaround Strategy for COVID-19 Problems
Thomas Kosinski

The COVID-19 pandemic has affected many people and businesses across the country. After a year has passed, many thriving businesses are now barely breaking even while struggling businesses have been closed permanently. This can leave both property owners and landlords in financial trouble, because a loss of tenants and rent may cause buildings to fall […]


Finalized Rehabilitation Credit Regulations and COVID-19 Extensions

The Rehabilitation Tax Credit (Internal Revenue Code’s Section 47) is a tax incentive for investors to renovate and restore old and historic buildings within cities and towns. The purpose of the credit is to promote historic structures’ rehabilitation; therefore, related building reconstruction costs, including new construction, are applicable under the credit. Under the Tax Cuts […]


Can You Deduct Travel Costs to Monitor Real Estate Investment Properties? U.S. Tax Court Says Yes, Within Limits
Michael Kovacs

The Internal Revenue Code allows the deduction of “ordinary and necessary” business expenses, including travel expenses while away from home overnight for business. A recent ruling by the U.S. Tax Court in Maki v. Comm’r, T.C. Summary 2019-34 (Tax Ct. 2019), is a good reminder that the deduction is subject to some restrictions. Taxpayer harvests […]


The Extended COVID-19 Qualified Opportunity Zone Relief Deadlines are Coming Due
Jeffrey Newman

The COVID-19 pandemic led the IRS to loosen a range of tax laws and regulations, including many deadlines. In June, the IRS issued guidance that provided relief from some qualified opportunity zone (QOZ) requirements — good news for investors with capital gains. With the end of the year approaching, many of those extended deadlines are […]


How to Make Your Property as Profitable as Possible
Tamara Partridge

2020 has been unlike any other year. Commercial real estate investors have struggled with decreased market values — or the threat of declining values. In these uncertain times, ask yourself three questions to help maintain profits and preserve market value. Can You Trim Expenses? The value of commercial real estate is usually a function of net […]


The Tax Importance of Having a Profit Motive
Thomas Kosinski

Individuals with real estate businesses often expect to deduct business-related expenses for tax purposes. But those tax deductions might not be a guarantee. One married taxpayer recently learned the hard way when the IRS disputed business deductions that led them to the U.S. Tax Court. Sarkin v. Commissioner provides a helpful overview of how the […]


Reintroducing Accessory Dwelling Units in Chicago

Accessory dwelling units (ADUs) have become popular rental alternatives in urban areas across the U.S. over recent years. Many cities, including Portland, Los Angeles, San Francisco and Washington, D.C., have already embraced the concept of offering these unconventional homes to offset the rising costs of housing within city limits. Now, more cities are evaluating current […]

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