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| Real estate investments often involve some form of third-party financing in the form of a mortgage or other lending instrument. Financing choices and structures can determine the tax consequences of a real estate investment, and careful planning in the financing stage can minimize the tax burdens of real estate investments. David Windish, J.D., LL.M., looks at the wide variety of financing techniques available and notes the tax planning considerations for each in his chapter on financing real estate in the new edition of Real Estate Taxation: A Practitioner's Guide. This critical chapter looks at the federal "at risk" rules and notes strategies for complying with the rules and how the IRS has worked to block avoidance of those rules. Windish includes a detailed example of how to compute the at-risk amount with explanations for each step in the process. There is also a discussion of Sec. 1031 and the tax ramifications of like-kind exchanges and sale-leaseback transactions. |
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To order Real Estate Taxation: A Practitioner's Guide, click here. |
Related Titles to this Article: |
U.S. Master Depreciation Guide
U.S. Master Property Guide
Investments and Taxes: A Practical Guide for Financial Advisors |
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Flow-through entities, such as partnerships, limited liability partnerships and limited liability companies, are often used in state income tax planning to reduce or even eliminate corporate income taxes in some states. Even in today's less tax-friendly environment in many states, limited liability companies and similar entities offer tax benefits without the negative consequences of creating a separate corporate subsidiary, according to Morrison and Foerster partner Craig Fields. He and other experts discussed the planning opportunities and the potential pitfalls with State Income Tax Alert in a recent issue. |
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Related Titles to this Article: |
Passthrough Entity Income Tax Refresher Course
U.S. Master Multistate Corporate Income Tax Guide
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In a keynote speech at the recent University of Chicago Law School Annual Federal Tax Conference, well-known tax attorney Peter C. Canellos took on tax shelters and how to clearly identify them for businesses that may be considering potentially risky strategies. A suspect transactions list would allow taxpayers to know for certain that they are doing something that is being considered a tax shelter, which would make it clear that the transaction could be challenged by the IRS and could face the prospect of being taken apart. Taxpayers would have to file forms saying they knowingly engaged in a transaction on the "suspect" list and that there would be heavy penalties for not filing such a statement. Mr. Canellos also proposed substantial penalties for taxpayers who lose in litigation challenging such shelters. This would remove the "gambling" perspective where taxpayers try aggressive strategies knowing in the end they will simply have to pay the tax and some negotiated interest in most instances.
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Related Titles to this Article: |
Journal of Tax Practice and Procedure
Journal of Taxation of Corporate Transactions
Business Tax Professionals Desk Reference Set
Enron and Beyond: Technical Analysis of Accounting, Corporate Governance, and Securities Issues |
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Many investments are designed specifically for tax benefits. With retirement planning, for example, careful up-front planning and long-term watchfulness and reconsideration of those original investment plans are required. Author Jae K. Shim, Ph.D., M.B.A., points out that a few percentage points can make a tremendous difference in time-leverage investments such as those typically included in retirement plans. In CCH's brand-new 2003 U.S. Master Finance Guide, Shim provides tools to help make calculations of various scenarios in tax planning and financial decision making. The basic rules of tax-advantaged investments are explained in a quick and easy-to-understand fashion. Many options are covered, including real estate investments, annuities and other popular investment and retirement planning tools. |
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To order the 2003 U.S. Master Finance Guide, click here. |
Related Titles to this Article: |
CCH Business Valuation Guide
U.S. Master Accounting Guide
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Property Tax Alert |
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