Apr 22, 2020

You May Have Insurance Coverage for COVID-19 Related Losses

Insurance Policy Photo

The actual policy terms are what matter This is another of our series of articles where we present a short action item related to COVID-19 topics. Many companies have insurance coverage beyond the standard commercial liability, automobile, errors & omissions, and directors and officers coverage.  Examples of this additional coverage are Business Interruption insurance, environmental insurance and for some companies engaged in the business of national and international conferences, event cancellation insurance.    Each of these could potentially be a source of insurance coverage in the COVID-19 scenario.  In this short “FYI” article, we will focus on Business Interruption and to… Read more


Sep 30, 2019

IRS Finalizes Safe Harbor for Rental Real Estate Activities

On September 24, 2019, the Treasury Department finalized a safe harbor for rental real estate activities which should provide some tax benefits for lessors and investors. We addressed the draft safe harbor in a previous tax blog posting which can be found here. In this posting, we provide a summary of the final version of the safe harbor and recommendations for maximizing the benefits available under it. Background IRC Section 199A is a tax incentive for pass-through entities and sole proprietorships.  It effectively reduces the federal tax rate on income arising from certain activities by as much as 20%.  Thus, if… Read more


Jan 22, 2019

Final Pass-Through Deduction Rules Grant Welcome Relief for Rental Real Estate Activities

Rental Real Estate - Sign in Yard

On Friday, January 18, 2019, the Treasury Department issued final rules under IRC Section 199A. As part of this regulation package, Treasury also provided much-needed relief and clarity for rental real estate activities.  This development creates some hope that similar rules may be in store for Opportunity Zone Funds. Background IRS Section 199A is a tax incentive for pass-through entities and sole proprietorships.  It effectively reduces the federal tax rate on income arising from certain activities by as much as 20%.  Thus, if income from an activity qualifies, a taxpayer who would otherwise pay taxes at the current top federal… Read more