Substantial Tax Benefits in Investing in Qualified Opportunity Funds
The Tax Cuts and Jobs Act of 2017 included a new Federal income tax incentive for investing in a qualified opportunity fund (a “QO Fund”) codified at Internal Revenue Code section 1400Z. This new incentive allows a taxpayer to defer capital gain that is invested by the taxpayer in a QO Fund within the …
Can you Protect your Claim in Bankruptcy?
Not all debts are dischargeable in bankruptcy. The key is to know which claims can be exempted from discharge and then what steps you, as a creditor, need to take to preserve your non-dischargeable claim.
Do You Need to Expand Your Customer Base?
If you have a product or service consider expanding your targeted customer to municipalities or institutions. Many organizations need products and services, possibly what you are selling, and their purchasing departments are looking for additional suppliers. Some use a bidding process and others have approved lists. You should start with a little research about the …
Simple Rules for Small Business (Part 2)
By: William J. Burke, III This is our second installment in the series Simple Rules for Small Business. > You are the Expert. > Don’t Sell Them What They Can’t Afford. > Hire Good People; and Train, Train, Train. > Understanding Factors in Litigation. …
Simple Rules for Small Business (Part 1)
By: William J. Burke, III Introduction As business lawyers and litigators we see how business legal problems arise and play out in many varied contexts. We see how business operational issues result in legal disputes, which can then become serious financial problems. In many cases, the risk, expense and valuable …
Realty Transfer Tax and Long Term Leases Update
In October 2016, the Commonwealth Court of Pennsylvania ruled on Saturday Family LP v. Commonwealth of Pennsylvania. The case focused on whether the commercial lease was subject to Pennsylvania realty transfer tax. In Pennsylvania, any lease that has a term of 30 years or more is subject to Pennsylvania’s realty transfer tax. In determining the …
Changes to Pennsylvania Mechanic’s Lien Law Take Effect
Pennsylvania’s mechanic’s lien law is set to undergo changes for projects valued in excess of $1.5 million. The changes seek to improve notices between participants on the job, particularly notices involving subcontractors and second tier material suppliers, and to help avoid the filing of liens. Subcontractors and other second- and lower-tier contractors and material suppliers …
Do I Really Need a Survey?
If you are buying a house, a lot, or any real estate for that matter, should you be getting a survey? The answer is probably yes.
New HUD Guidance On Use Of Criminal Records To Evaluate Tenants, Buyers And Borrowers
By: William J. Burke The Office of General Counsel of the U.S. Department of Housing and Urban Development (“HUD”) has issued guidance dated April 4, 2016 addressing how improper use of criminal background information by applicants for sale, rental or financing of housing that is subject to the Fair Housing Act (“Act”) may violate …
What are the potential impacts of a pipeline easement on your Pennsylvania Property?
Chester County, Pennsylvania currently has a least two active pipeline projects winding through it. The Columbia Pipeline Group’s Eastside Expansion Project which runs from West Vincent to West Bradford, and Sunoco Logistics Mariner East 2 Project running from northwest to southeast Chester County. Hundreds of Chester County residents have been or will be approached with …