Cutting Edge Tax Strategies for Real Estate – Webcast
Overview
Join Greg White and George Koutelieris, CPAs, as they walk through strategies for purchasing real estate, passive activity rules (including the exceptions for real estate professionals and short-term rentals), the self-employment tax exception for rental real estate, partial disposition losses, converting nondeductible interest expense to deductible interest expense, and like-kind exchanges. They will also cover how to break out the purchase price apportioned to improvements into its components: building, land improvements, and personal property. Finally, they will cover common issues with Airbnb properties and take a deep dive into claiming bonus depreciation, Section 179 and de minimis deductions on real estate.
Don’t miss this chance to get an in-depth look at the changes in real estate taxation so you can advise real estate investors and developers with confidence.
Highlights
- Apportionment of purchase price
- Bonus depreciation, Section 179 and de minimis expensing for real estate.
- Financing considerations, including whether clients should make the real property election out of Section 163(j)
- Partial disposition losses
- Deducting removal costs
- Depreciating property acquired in a like-kind exchange
- Converting nondeductible interest expense into deductible interest expense.
- Section 199A for rental real estate
- Revenue Procedure 2019-38 "safe harbor" for rental real estate
- Aggregating rental properties
Prerequisites
Basic understanding of federal income taxation of real estate transactions.
Designed For
All CPAs, EAs, and other tax professionals as well as tax staff who work with real estate transactions and related tax issues.
Objectives
- Recognize the mechanics of apportioning purchase price as part of a purchase and sales agreement.
- Identify property that qualifies for bonus depreciation, Section 179 and de minimis expensing.
- Identify method to convert nondeductible interest into deductible interest expense.
- Recognize how to compute partial disposition losses.
- Recognize how to compute depreciation for property acquired in a like-kind exchange.
- Identify strategies for maximizing the QBID on real estate.
- Identify circumstances where the "safe harbor" for rental real estate may be beneficial to your clients.
- Identify appropriate circumstances for aggregating rental property for QBID purposes.
- Identify real estate professionals.
- Compute real estate losses allowed for active participants.
- Identify strategies for participating in like-kind exchanges.
Leader(s):
Leader Bios
George Koutelieris, Cutting Edge Tax Strategies LLC
George J. Koutelieris, CPA, MS-Tax, is a shareholder in the firm Johnson & Shute P.S. and a Member of Cutting Edge Tax Strategies, LLC. He is also an Adjunct Professor at Golden Gate University teaching various tax courses.
George's practice includes planning and consulting on complex transactions including formations, liquidations, mergers and acquisitions, purchase and sales, multi-state and international tax for closely held businesses and their owners, with a concentration on the real estate industry.
George is a member of the American Institute of Certified Public Accountants and the Washington Society of Certified Public Accountants, where he is a former chair of the WSCPA's Taxation Committee. George is also an active speaker on various tax topics, having presented in the past for all the State Societies on the west coast.
(3/19/21)
Gregory White, Cutting Edge Tax Strategies LLC
Greg White, CPA-WA, has practiced tax accounting for more than 35 years. He is founder, shareholder, and President of CPA firm WGN, P.S. in Seattle, Washington, which serves a successful entrepreneurial client base. He also owns and operates State of the Art Tax, LLC, a tax education company. Greg is in his tenth year as an adjunct professor at the Golden Gate University's Seattle Campus where he teaches capital assets, tax accounting, and individual taxation. Greg is licensed to practice in and has argued cases before the U.S. Tax Court. He has been named "Top 50" IRS Practitioner by CPA Magazine.
Greg has extensively presented tax CPE, predominantly on the west coast, over the last decade and has written and presented live courses and webinars for CCH and others nationally. He has presented tax topics in the Pacific Northwest on TV including spots on KOMO TV, King TV, and Northwest Cable News. He is frequently in contact with Treasury, IRS, and other top government officials in Washington, D.C. as to late breaking guidance from the government and has been involved in making recommendations to them to help practically shape federal tax legislation and administrative guidance.
(11/2/20)
Non-Member Price $385.00
Member Price $310.00