Subscribe to RSS feed
Justin Sylvan

Justin Sylvan

Author's details

Name: Justin Sylvan
Date registered: January 11, 2016



Justin is a member of ORBA’s Tax Department. His experience includes preparing individual, partnership and corporate federal and state tax returns and advising clients on tax planning for numerous professional corporations.

Latest posts

  1. New Landscape for Real Estate Investment Trusts — November 21, 2017
  2. Placed in Service: When Tax Breaks May Apply to Retail Properties — July 27, 2016

Author's posts listings

Nov 21

New Landscape for Real Estate Investment Trusts

The Protecting Americans from Tax Hikes (PATH) Act made substantial changes to certain area of the Real Estate Investment Trust (REIT) rules detailed below. Many of the provisions provide REITs with additional flexibility regarding the nature of their assets and income and make REITs an appealing investment vehicle for foreign taxpayers. Here’s a summary of several provisions that provide tax benefits for REITs.

Jul 27

Placed in Service: When Tax Breaks May Apply to Retail Properties

A big question we see in the tax realm is: “When can I start depreciating my building?” Conventional wisdom says to start depreciating your retail property once it is open for business. However, a recent court ruling sheds new light on the issue. In this article, we examine the meaning behind the term “placed in service” and analyze the tax court case Stine LLC v. U.S., No. 2:2013cv03224, Jan. 27, 2015 (W.D. La.). In the case, the IRS ruled that a taxpayer’s building could not be considered “placed in service,” as its retail properties were not yet in operation. However, the tax court disagreed with the IRS and had their own interpretation on what “placed in service” means. Read further as we examine this case in greater detail, as it provides additional guidance on when a real estate property can start being depreciated.