Guide To: Philadelphia Real Estate Transfer Tax Exemptions

Are you looking to transfer property in the Philadelphia area? You should be aware that typically, there are both state and local transfer taxes associated with this type of transaction, in addition to recording fees. Effective October 1, 2018, the transfer tax for the city of Philadelphia is 3.278%, with an additional state of Pennsylvania tax of 1%, for a total of 4.278%. This transfer tax is traditionally split between the buyer and the seller […]

By | June 19th, 2019 ||

Oregon Corporate Activity Tax

Oregon recently signed a new law effective January 1, 2020, allowing the state of Oregon to collect a Corporate Activity Tax (CAT). The Oregon CAT will be imposed on businesses having a sufficient level of commercial activity and nexus within the state of Oregon.

Oregon nexus is established if you are a resident of the state, domiciled in the state for corporate, commercial or other business purposes, or meet one of the following thresholds during […]

By | June 7th, 2019 ||

Will The New Tax Laws Make Divorce Settlement More Difficult?

Q: I am thinking about getting a divorce. Will the new tax laws make settlement more difficult?
A: Likely, yes. It is the end of the first quarter of 2019, and the 2017 changes to the Internal Revenue Code concerning divorce payments are in full swing.

It has been widely publicized that for divorces finalized after Dec. 31, 2018, the revised code makes alimony not deductible by the payer and not taxable to the recipient. It does […]

By | June 1st, 2019 ||