Gorham Bypass is set to open in mid-December 2008
July 30, 2008
After more than 50 long years since city officials first started talking about it, the new Gorham Bypass is set to open in mid-December 2008 according to the Maine Department of Transportation.
Amazingly, the project will finish 6 months ahead of schedule. Approximately 7,200 vehicles are expected to use the 3.4 mile road on a daily basis once finished
Maine’s congressional delegation, particularly Rep. Tom Allen, D-1st District who helped earmark federal funds should be given credit for helping this project become a reality.
The new bypass will connect Route 25 to Route 114 which will be a huge relief to families that bought homes on South Street years ago expecting the traffic to be re-routed with the new bypass.
Many experts believe the new Gorham bypass will be a boon to small businesses around the intersection because currently rush hour traffic makes it difficult to get to them.
There are rumors of a Northern bypass being built, but there isn’t any funding for it yet.
technorati
July 28, 2008
What Does Active Really Mean? Two tax traps
July 16, 2008
The following article was written by our GO Zone tax advisor.
In my opinion, the requirement for the GO Zone property to be own by someone who is active in a trade or business creates an overall potential for investor benefit but contains two traps for the unwary. Read more
1031 Exchange from a GO Zone property to a non-GO Zone property without the recapture of the bonus depreciation?
July 16, 2008
The folllowing article was written by our GO Zone tax advisor.
My answer to this question…No!
In December of 2007, there were positions offered in tax literature that stated an IRC 1031-exchange from a GO Zone property to a non-GO Zone property would be allowed.
In my opinion, this position was (at best) aggressive. Read more
1031 Exchange from one GO Zone property to another without the recapture of the bonus depreciation?
July 16, 2008
The following article was written by our GO Zone tax advisor.
The appropriate use of IRC 1031-type exchanges is a legitimate tax concern as it can materially effect the economics of (1) Developing a portfolio of real estate investments via the deferral of gain and (2) Exiting from real estate investments to a cash position at a future point.
IRC 1031-type exchanges have been a strong tax tool over an extended period of time and it is only logical taxpayers would not like to see it’s use limited to specific geographical areas or the deferral benefits of gain restricted to only a portion of the total gain.
However, this is exactly the position the legislations seem to take and certainly the position which governs most of the IRS’s direction. Read more
What are the benefits for GO Zone Real Estate Investing?
July 16, 2008
The material benefits of the GO Zone for real estate investing are: Read more
The MDA Small Rental Assistance Program Pushes Through 1st Round
July 4, 2008
Finally! The first round of the Mississippi Small Rental Assistance Program (SRAP) apps were due in last November, and after 7 months of back and forth from all the government entities involved, the first checks have started to get disbursed. Read more
To important changes to the GO Zone
New GO Zone Projects and incentives
