Somewhat lost in the welter of caterwauling and chaos surrounding the Affordable Care Act rollout was a 3.8 percent tax on certain investment income that included real estate and exempted qualified real estate professionals.
Congress passed the so-called Medicare tax in 2010, and it went into effect on Jan. 1 of this year. It applies to individuals with adjusted gross incomes above $200,000 and joint returns with an AGI of more than $250,000. Capital gains on the sale of a primary home totaling less than $250,000 for an individual and $500,000 for joint filers are still exempted. But the Medicare tax has ruffled feathers even if it affects a small and affluent group of people and transactions.
The economy is improving, values are rising, transactions are increasing, banks are lending, Downtown is booming, and it’s all very apparent to Robert Gilman, a partner at Anchin, Block & Anchin LLP who co-chairs the accounting firm’s real estate practice. “People say we’re in a stalled economy,” Mr. Gilman said. “But in real estate, we’re Read More
Year in Real Estate
The city’s aging population, a drive for state-of-the-art facilities and strong hiring across the health care industry prompted unprecedented growth in leasing activity in the health care sector across the five boroughs in 2012.
Memorial Sloan-Kettering, Mt. Sinai, Montefiore Hospital and Inventa Health were among the dozens of hospitals and medical companies to announce bold new initiatives to expand their footprints in the city in 2012, and those developments are only a sign of what’s to come, brokers and analysts predict.
With the U.S. Supreme Court currently hearing arguments about the constitutionality of portions of President Barack Obama’s Patient Protection and Affordable Care Act, the healthcare industry is facing many unknowns. Marcus & Millichap’s recent Medical Office Research Report charts the effect of these unknowns on the sector. It also takes a look at who the most active buyers of healthcare assets will be in 2012.
Recently, there has been tremendous coverage of the Occupy Wall Street protests. It is obvious that this is not a political movement but merely a way for some disgruntled Americans to express their frustrations. It is unfocused and really has no coherent agenda. Ask 50 demonstrators why they are there and what they hope to achieve and you get 50 different answers.