Capital Gains Taxes to Rise Next Year?

Image by Renegade98 via Flickr There is a growing sense we could see an increase in capital gains taxes next year. As pressures to find new revenue sources to pay for decreased tax collections in other areas, the capital gains tax is said to be increasingly vulnerable.

Robert Knakal, Chairman of Massey Knakal Realty Services in New York, certainly thinks so. His reasoning is set forth on the company's blog called the Massey Knakal Reel. In an e-mail Monday, Mr. Knakal sent out a warning to owners and brokers and referred them to a more detailed overview in the blog post:

"[the article] discusses the fiscal difficulties state governments and the federal government are facing given various tax collection problems. The conclusion is that taxes are likely to increase next year and the most vulnerable of all taxes is the capital gains tax which is considered a tax on the wealthy. If a sale of a property is contemplated without utilizing a 1031 exchange, closing before year end may be very beneficial as any state or federal capital gains tax increases will likely be retroactive to January 1, 2009."

Owners of property should take note.

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Jones Lang LaSalle Joins Ceres' Network of Companies

Image via Wikipedia Jones Lang LaSalle Joins Ceres' Network of Companies

Jones Lang LaSalle becomes the first real estate sector company to be approved by the Ceres' network of companies.

About Ceres

Founded in 1989, Ceres is a leading North American network of investors, environmental groups and other public interest organizations working with companies to address sustainability challenges such as global climate change. Ceres also directs the Investor Network on Climate Risk (http://www.incr.com), comprised of more than 65 institutional investors who collectively manage over $5 trillion in assets.
http://www.ceres.org

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE: JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2007 global revenues of $2.7 billon, Jones Lang LaSalle has approximately 180 offices worldwide and operates in more than 700 cities in over 60 countries. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.2 billion square feet worldwide. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse real estate with approximately $54 billion of assets under management.
http://www.joneslanglasalle.com.