It doesn’t take a world-renowned economist to know that e-commerce is wreaking havoc on big box stores around the world. Both Sears and Kmart recently announced that they will be closing even more stores nationwide and as online giants like Amazon continue to grow, many other retailers are positioning themselves fiscally to remain relevant.
As a way to cut costs and eliminate wasteful spending, many of these big box stores are requesting less square footage upon renewal of their lease. But while it makes financial sense for the retailer, it often creates a problem for the owner of the property who is suddenly left with vacant space that needs to be filled.
In the January 11, 2019 print edition of Baltimore Business Journal, Dan Thrailkill, CPA, director in Ellin & Tucker’s tax department, gives us an indepth look at the impact new tax laws have on commercial real estate property owners.
To read the rest of the article, please visit New Tax Laws Could Mean Big Problems For Big Box Property Owners on Baltimore Business Journal’s website (Subscription required).
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DANIEL J. THRAILKILL, CPA is a director in Ellin & Tucker’s Tax Department with nearly two decades of tax planning, compliance and consulting expertise for privately held businesses and high net-worth individuals. He can be reached at email@example.com.