This is a one-day seminar designed for CEOs, CFOs, controllers and other professionals in real estate businesses, real estate investors and developers, accountants, attorneys and other professionals servicing real estate businesses.
The seminar will describe the income tax aspects of real estate businesses, including existing and new information on income tax and legal rules and planning in that industry. The seminar is intended to aid those involved in the real estate industry to understand techniques for the analysis of a prospective acquisition of realty and the methods of acquiring realty, including leasing, purchasing, and financing. The presenters will describe how to select an optimal ownership structure and explain the unique attributes of various ownership structures, including the limited liability company. The seminar will provide participants valuable information on the taxability of owning and operating realty (including the effect on taxable income and available credits) and the taxability of dispositions of realty (especially the methods available to defer and exclude gains by various means, including the use of like-kind exchanges).
8:30 a.m. - 10:00 a.m.
A. Analyzing The Investment In Advance Of Acquisition
B. Placing Business Realty In Separate Entity
C. Choice Of Entity
a. General Partnership
b. Limited Partnership
c. Limited Liability Company (LLC)
i. Single Member LLC
d. Allocations: Substantial Economic Effect
2. C Corporation
3. S Corporation
10:00 a.m. - 10:10 a.m.
10:10 a.m. - 12:00 p.m.
I. Acquisition (Continued)
1. Purchase Cost
2. Contribution Of Built-In- Gain Or Loss Property
3. Cost Segregation
a. Bonus Depreciation On Personalty
E. Purchase Financing
1. Qualified Non-Recourse Debt
G. Cash vs. Accrual Method
1. Special Election To Accrue Real Estate Tax
2. Accrued By Unpaid Rent Expense Of Related Entity
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 2:30 p.m.
A. Gross Income And Deductions
1. Including Tenant Payments Under Net Lease
2. Dealer Status
3. Aggregation/ Disaggregation Of Activities
4. Illinois Subtraction For Reasonable Allowance For Compensation To Partners
B. Real Estate Tax Valuation Assessments
1. Appealing Real Estate Tax Assessments
1. Basis Limitation, For Losses And Distributions
2. At-Risk Limitation, For Losses
3. Passive Activity Loss Limitation
a. Leasing To Related Material Participation Entity
2:30 p.m. - 2:40 p.m.
2:40 p.m. - 4:30 p.m.
A. Realization Of Gain Or Loss
1. Sales Or Exchanges
3. Adjusted Basis And Expenses Of Sale
4. Depreciation Recapture
B. Non-Recognition Of Gain Or Loss
1. Like-Kind Exchange
2. Involuntary Conversions
C. Recognized Gains And Losses
1. Deduction Of Loss
2. Characterization Of Gain Or Loss
3. Installment Sales
4. Election Out Of Subchapter K To Minimize Illinois Replacement Tax On Gain