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Manufactured housing communities (MHCs), also commonly referred to as mobile home parks, continue to increase in popularity, while state and local regulations governing them also continue to expand. Read...
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Learn best practices for advocating on behalf of your FDA-regulated clients in light of the new legal paradigm introduced by the Supreme Court’s decisions in Loper Bright and Corner Post . Read...
Do you need to learn about potential legal and business risks stemming from the use of artificial intelligence (AI) tools to manage employee performance and make employment decisions (e.g., screening,...
Boot is an old English term meaning "something given in addition to.” In tax lingo, it means cash or non-cash consideration, including other property that is not "like-kind," like promissory notes, debt relief (mortgage boot), or other property. When structuring a sale or exchange of property (real or personal) that is eligible for tax-free treatment under I.R.C. § 1031, gain realized on the exchange is recognized (reported) to the extent of the boot received. Although the receipt of boot does not invalidate nonrecognition treatment, you may pay taxes at the federal and state level on boot proceeds. Learn more by accessing our 1031 Like-Kind Exchange Resource Kit.
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