We assist our clients with all phases of real estate activity including acquisitions, operations, and sale. By properly structuring acquisitions of real estate, our clients can maximize income tax benefits and take advantage of estate planning opportunities. Acquisitions are also evaluated to determine if a cost segregation study is advantageous. We advise our clients with respect to “deal structure” in joint ventures and consult with their attorney to ensure the income and distribution provisions in their operating agreements have economic effect and are compliant with IRS regulations. We also assist our clients in structuring like-kind exchanges to maximize tax deferrals on the sale of real estate investments.

Real estate ownership is often held in a single-purpose entity, usually an LLC. Our firm prepares the required tax returns for many such entities. Accordingly, we are highly experienced in dealing with the many complex compliance issues that arise in real estate development and investment. We are experts in the Section 704(b) regulations concerning partnership allocations.

When the economy and the real estate market suffer a dramatic downturn, we help our clients plan for workouts of troubled real estate investments. These situations often involve the consideration of worthless partnership interests and other real estate positions, the characterization of losses as “capital” or “ordinary”, the timing of such losses, and determination of income from the cancellation of indebtedness. We strive to maximize tax benefits from losses and minimize taxable income from the cancellation of indebtedness.