LIEB BLOG

Legal Analysts

Monday, June 13, 2011

Suffolk's Green Field

Suffolk's Green Field
The largest solar farm in the Northeast is almost done & more interestingly, its located in Suffolk County!!!

The project, which spans nearly 200 acres, is located at Brookhaven Lab & can power approximately 4,500 homes.

The coolest part of this project is the collaboration between Brookhaven Lab, BP & LIPA where BP gets access to free land, Brookhaven Lab has access to an array of data & LIPA is purchasing the energy. Its win-win-win.

Now one may ask themselves why a real estate school cares about a solar farm. The answer is simple. Green construction is the future and we believe that Brookhaven Lab's research from this project will greatly advance the field. We cannot wait to see the fruits of this research. Best of the luck to the venture.
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Friday, June 10, 2011

The Renewable Energy Home

The Renewable Energy Home
Right in the backyard of my law firm is a fantastic gem of renewable energy, check it out by clicking here.
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Friday, May 27, 2011

THE IRS CRACKS DOWN ON UNPAID ESTATE TAXES

THE IRS CRACKS DOWN ON UNPAID ESTATE TAXES

Distributees beware! The IRS is now using state land-transfer records to discover unpaid Estate Taxes on gifts of real property to family members.

Although federal exemptions are currently at $5 million, gifts amounting to $13,000.00 or more must be reported to the IRS by filing Form 709 for U.S. gift and generation-skipping transfer taxes.

As a result of these investigations in which the IRS uses land-transfer records as evidence, many people are being examined, and possibly taxed, fined, or penalized.

Lesson: If a gift of real property is worth more than $13,000, even if within the lifetime exemption amount of $5 million, a gift-tax return must be filed or it must be reported!

SOURCES:http://online.wsj.com/article/SB10001424052702304066504576345672097256428.html?mod=WSJ_RealEstate_LeftTopNews

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