As investors increasingly leverage Section 1031 exchanges to defer capital gains taxes, nuanced scenarios involving interest income on exchange proceeds require careful analysis. A critical but often overlooked aspect arises when interest earned on funds held by a...
The intersection of real estate transactions and tax strategy has long been a focal point for investors seeking to optimize returns while minimizing liabilities. Two powerful tools in this arena – the Membership Interest Purchase Agreement (MIPA) and Section 1031...
Since its passage barely over two years ago, the Inflation Reduction Act of 2022 (IRA) has made significant steps forward in promoting energy efficiency within the construction industry. Incentives under the IRA include tax credits for the installation of clean energy...
In KJK’s prior alert, “Residents First” Proposal Introduced to Cleveland City Council, we discussed the City of Cleveland’s (the “City”) proposed legislation affecting Cleveland’s residential landlords. Since then, legislation passed in 2024, and the City will be...
Ohio recently joined the majority of states – and many nations – in adopting the International Plumbing, Building, and Mechanical Codes (IPC®, IBC®, and IMC®) in March 2024. These codes are part of the International Codes (I-Codes®) published by the International Code...
Starting this month, Cuyahoga County (the County) begins the daunting task of reappraising every property in the County for the sexennial reappraisal due to be completed in 2024. As required by state law, every county in Ohio is required to periodically update or...
This month, a proposal dubbed the “Residents First Legislative Package” (the “Proposal”) was introduced to Cleveland City Council. The Proposal is aimed at combatting vacant and dilapidated buildings in the City of Cleveland as well as enforcing stricter upkeep of...
As KJK has previously covered, earlier this year, the Supreme Court of the United States (SCOTUS) delivered a landmark ruling on the reach of the protections afforded by the Clean Water Act (CWA) in Sacket v. EPA. In that case, while all agree the CWA provides some...
Earlier this year, the Biden administration, via the Environmental Protection Agency (EPA), proposed a new plan to increase vehicle emissions standards to their most stringent level ever. While the EPA has the authority to regulate these standards, and has done so in...
On May 25, the Supreme Court of the United States (SCOTUS) made its final decision on a long-running case that will redefine the power and authority that the United States Environmental Protection agency (EPA) will have to regulate and protect the navigable waters of...