Basis and Basics of 1031 Exchanges
Pursuant to Internal Revenue Code section 1031, taxpayers are allowed to defer the gains realized on sales or exchanges of real property if the exchange meets the requirements of the provision. These benefits will be allowed only to real property held for productive use in trade or business or for investment if the properties subject to the exchange are also of “like-kind” by their nature. In...Read More
Coronavirus Economic Stimulus Package Highlights
In response to the COVID-19 pandemic, Congress passed a series of legislations including the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act”, which was signed into law by President Trump on March 27, 2020. The CARES Act is designed to provide economic relief for individuals and small businesses who have suffered economic hardships due to the coronavirus pandemic. The $2...Read MoreUnpacking A Living Trust
Our law firm recently created all of the essential estate planning documents for a client whose net worth is approximately $22 million. However, the concepts that are covered in this video are generally applicable to anyone who is considering establishing or amending a living trust regardless of the amount of his or her net worth. In the video above, attorney Haik Chilingaryan highlights the...Read More