Real Estate: State of the Art Tax Planning Strategies
Author: Greg White
| CPE Credit: |
8 hours for CPAs
8 hours Federal Tax Related for EAs and OTRPs
8 hours Federal Tax Law for CTEC |
Join expert Greg White, CPA, as he covers essential real estate planning ideas and practical tax tools. The topics will span the life cycle of real estate:
• Strategies for purchasing real estate (including allocating the purchase price to land, building, land improvements and personal property).
• Operating real estate (including applicability of the section 199A QBID to rental real estate), real estate professionals (including when to elect to aggregate rental properties), using debt-financed distributions to convert nondeductible interest to deductible interest expense, maximizing depreciation deductions.
• Disposing of real estate, including allocating the purchase price to reduce taxes and minimizing recapture income. We’ll also cover how to utilize §1031 exchange to make a tax-free exchange into future vacation home. And comparing the advantages of a §1031 exchange vs. an investment in a qualified opportunity fund.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: May 2020
Topics Covered
- Best depreciation method for real estate improvements, including Tax Cuts and Jobs Act changes
- Maximize the §199A deduction in the real estate rental area
- Allocate the purchase price of real estate to land, building, land improvements, and personal property
- The new rules for de minimis expensing updated for changes in the Tax Cuts and Jobs Act
- Changes made to interest deductibility area
- Should some real estate owners "elect out" even though their gross receipts are significantly below $25 million?
- Self-employment taxes and rental real estate
- Picking the right type of entity to own real estate
- Cutting-edge tax strategies for real estate professionals
Learning Objectives
- Recognize and apply strategies for real estate, including strategies available under the Tax Cuts and Jobs Act
- Identify how to determine the best depreciation method for real estate improvements
- Recognize how to maximize the §199A deduction in the real estate rental area
- Identify how to allocate the purchase price of real estate to land, building, land improvements, and personal property
- Recognize and apply the new rules for de minimis expensing
- Recognize and apply changes made to interest deductibility area
- Describe self-employment taxes and rental real estate
- Differentiate how to pick the right type of entity to own real estate
- Identify cutting-edge tax strategies for real estate professionals
- Identify which UOP as it relates to building systems
- Describe depreciation and de minimis rules
- Identify qualified improvement property
- Recognize reference tax court cases associated with rental real estate
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (8 hours)
Program Prerequisites
None
Advance Preparation
None
