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THE TOP 50 TAX BLOOPERS AND BLUNDERS IN REAL ESTATE INVESTMENTS
AND HOW TO FIX THEM
Real estate has been a hot investment, and as it has attracted more attention by clients, it is likely that a number of mistakes are made throughout the life cycle of the investment. This enjoyable course focuses on the mistakes made by others…so that you are not doomed to repeat them.
Major Topics:
- Structuring the ownership
- What’s wrong with C corporations, S corporations, LLCs, limited partnerships, and sole proprietorships?
- Errors in trying to get a partner out, or a partner wanting to get out.
- Dealing with investors: preferred returned, flip-flops, management fees and what is covered.
- Should real estate be held in your trade or business entity or outside?
- Financing and refinancing the purchase
- Debt issues: prepayment clauses, default clauses, guarantees. What you do up front will have a big effect on the back end.
- Refinancing the property: basis problems, tracing rules, and other issues.
- Depreciation and write-offs
- Classification issues: mixed-used properties, cost segregation pros and cons, land and land improvements vs. building.
- Tenant improvements: structuring the deal.
- Repair vs. improvement: documentation, rehabilitation, pushing the envelope and losing.
- Demolition costs: where do they go?
- Operational issues
- Management contracts
- Employees vs. independent contractors
- Passive activities, real estate professionals, and related party issues
- Selling the property or interest
- Like-kind exchanges: do’s and don’ts
- Installment sale problems
- Related party sales: big issues
- Allocation of your sales price
- Workout and troubled properties
- …and much more!
Designed For: CPAs who wish to have a broader insight into the areas in which expensive tax errors are most often made in real estate investments.
What You Will Learn:
- Identify the major tax errors in a real estate investment.
- Not only understand how to avoid such mistakes, but be able to advise clients on the best available planning strategies.
Level of Knowledge: Intermediate
Field of study: Taxes |
