Real estate

The rollout of New York's pied-à-terre tax can proceed for now after an appeals court temporarily put a hold on a Staten Island judge's order blocking the plan.

Trump in a social media post argued that the policy was costing the city by driving away wealthy people who would otherwise pay taxes there.

The suing homeowners said the city caused "mass confusion" with its identification of thousands of properties potentially subject to the tax on second homes.

New York City's new pied-à-terre tax is prompting financial advisors to help wealthy clients reassess their options, from residency status to estate plans.

The levy targets single-family homes worth $5 million or more and apartments worth $1 million or more.

Mayor Zohran Mamdani defended the rollout of a new tax on highly valued second homes in New York City, saying only property owners who receive a letter from city officials will be impacted by the levy.

Judgment about property improvements used to be defined by personal biases and loose, anecdotal evidence. Financial tracking is changing that.

Fischer Cunnane & Associates acquired Kalos Hutchings & Co., expanding the firm's presence in the Philadelphia region and strengthening its real estate services.

The super wealthy are accustomed to finding ways to shrink their tax bills. But with New York City's new levy, many are learning they might just have to pony up.

The Internal Revenue Service and the Treasury Department plan to issue proposed regulations for qualified opportunity zones under the TCJA and the OBBBA.

A budget analyst estimated about 5,100 properties would have been eligible for the tax, generating between $9.2 million to $21.4 million in its first year.

The so-called pied-à-terre tax is expected to take effect July 1 this year and would affect roughly 10,000 single family homes, coops and condominiums citywide.

The proposed tax would be levied at 1% of the purchase price and would be paid by the buyer.

New York officials are trying to give shape to the pied-à-terre tax proposed by Governor Kathy Hochul, with significant questions still unresolved.

The Internal Revenue Service plans to offer settlements in syndicated conservation easement cases, but only for a limited time, as it unveils an updated website.

Governor Kathy Hochul and New York City Mayor Zohran Mamdani have finally found a tax to agree on. Getting everyone else on board stands to be more complicated.

The second-home plan is expected to be part of ongoing state budget negotiations and would levy a yearly surcharge on pied-à-terres.

A Texas judge struck down a rule requiring professionals engaged in real estate closings and settlements to report information about nonfinanced transfers.

Here's a tip; what a relief; established client base; and other highlights from our favorite tax bloggers.