We serve a substantial number of clients in the real estate industry. These clients range from real estate developers to clients who are owners and managers of real estate, including three of the top ten real estate owners in the area. We have a broad range of technical skills and knowledge about the industry.
Tax Planning Expertise and Experience
Our philosophy for providing tax services is simple, yet powerful. We constantly strive to provide high-level tax related services based on your needs and the direction of your business.
For additional information, send us an email to Steve Pullara.
Examples of these services include:
- Developing and assisting with the implementation of plans in the area of estate and gift taxation.
- Offering tax related advice on the structuring of entities and ownership of assets, for both existing and new entities.
- Providing up-to-date planning ideas and advice as new tax law changes are implemented.
- Consulting on employee benefit issues, including bonuses and fringes.
- Consulting on sales and use tax and payroll tax issues, in addition to income and franchise tax.
- Advising on the availability of federal and state credits and incentives, and on industry-specific tax savings.
Our firm is committed to maintaining a staff of highly skilled tax professionals. There are twelve professionals in our tax department, including three professionals with Masters of Taxation degrees and three individuals who have previously practiced as tax attorneys.
Specific Tax Planning for Owners of Real Estate
- Cost Segregation – Allocation of cost to assets with shorter depreciation lives to maximize tax benefits.
- Tax deferral strategies:
- Deferred real estate exchanges
- Installment sales
- Accounting tax methods
- Maximize depreciation deductions:
- Cost segregation
- Bonus depreciation
- Section 179
- Minimize alternative minimum tax (AMT) and use AMT credit:
- Depreciation methods and lives to minimize AMT preferences
- Search for AMT gain/loss adjustments on the sale/disposal of assets
- Provide tax planning services:
- Take advantage of tax deductions and capitalized cost accounting alternatives
- Accelerate development costs allocated to units sold
- Monitor AMT
- Take advantage of tax deferral opportunities
- Structuring and using S corporations to maximize allocation to capital gain versus ordinary income character upon sale of assets
- No surprises
- Review client tax situation for potential opportunities:
- Real estate professional status
- Consider retirement plans:
- Safe harbor plan
- Cross-tested plan