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Real Estate Partnerships: Get In, Get Out, Get Taxed (REPG00)

 
Date:Thursday, December 14, 2017
Time:8:30am - 4:30pm
(Registration at 8:00am )
Facility:Miami Airport Marriott, Miami
CPE Credit:8.0 Technical Business
Instructor: Edward K. Zollars
Vendor:Nichols Patrick CPE, Inc.
Course Level:Intermediate
Early Bird Price:$295.00 FICPA Members, $420.00 Non-Members
Regular Price:$350.00 FICPA Members, $475.00 Non-Members on 11/14/2017

Description:
Taxation specific to the real estate industry is replete with special tax laws that are complex and associated with the real estate industry. The current tax laws and regulations may determine the profitability when acquiring and disposing of real property. Special tax laws have been promulgated to mitigate the tax burdens, which in turn may determine returns on investment in real property. The partnership entity is the most commonly used form of ownership when acquiring or constructing real property.
This seminar explores how partnership taxation applies in many areas of the real estate industry.


Objectives:
Participants will be able to:
  • Plan and comply with taxation provisions affecting partnerships ,LLCs, and corporations
  • Recognize opportunities to mitigate tax burdens
  • Work with clients and associates to structure real estate deals providing a favorable tax status
  • Effectuate a successful Section 1031 Tax Deferred Exchange
  • Understand the tax treatment of cancellation of indebtedness issues
  • Execute strategies for exiting partners


Major Topics:
  • Disposition of real property, including Section 1031 exchanges, contributions of real property, and involuntary conversions
  • The tax implications of abandonment of a partnership interest and deduction for a worthless partnership interest
  • Recourse and non-recourse debt allocations
  • Cancellation of indebtedness tax issues, covering Section 108 ,including insolvency and bankruptcy relief provisions
  • Dealer versus investor substance issues and tax effects
  • Valuation of real estate partnership interests for estate planning and gains on disposition of a partnership interest
  • Tax treatment of lease acquisition and cancellation costs
  • The complexities of Section 467 lease arrangements
  • Passive activity, tax basis, and at-risk basis limitations
  • Planning techniques to reduce taxes upon disposition of real property


Who Should Attend:
CPAs in public practice or industry that practice in the real estate industry.


Prerequisite:
None



Note:

FICPA EZMaterials! As of April 1, 2017, the FICPA will be going completely green and paper manuals will no longer be available. You will be able to download the EZMaterials as searchable PDFs to your laptop, tablet or other device seven days before the event. Click here for more information.


Session/Options

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Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.