Steven Cutler Quoted in Article Discussing How Changes to Foreign Investment Tax Law Will Affect Miami Real Estate
Steven W. Cutler, a Miami-based partner in the Taxation group at Hinshaw & Culbertson LLP, was quoted in the article "Foreign investment law change may ripple into our market" published by Miami Today on February 4, 2016.
The article discusses the recent changes to the 1980 Foreign Invest in Real Property Tax Act (FIRPTA) and its effect on South Florida's real estate market, according to local tax experts and brokers.
Mr. Culter is optimistic about the investment opportunities and identified two changes to FIRPTA that encourage international investment. One is the relaxation of the tax burden for publicly traded real estate investment trusts, or REITs, and the second is that qualified non-US pension funds will pay no tax at all. Said Mr. Cutler, "Those two things will be very attractive for investment in the US -- especially in Miami."
Mr. Cutler focuses his practice on developing and implementing sophisticated state, federal and international tax and estate planning strategies. He regularly provides counsel to individuals and closely held businesses with respect to a wide spectrum of comprehensive tax, estate planning, asset protection and business-related matters