REAL ESTATE AND PARTNERSHIP TAX PLANNING

A substantial portion of our practice is devoted to tax planning involving partnerships, including limited liability companies that operate in a variety of industries. Our firm represents a wide array of real estate owners, whether they are holding real estate as investors, as developers, or both. Many clients are full-time real estate professionals while others passively invest their excess cash flow in real estate.

Very few tax advisors fully understand the truly remarkable tax planning options available to partners of partnerships and members of limited liability companies that own real estate. The flexibility of a partnership or limited liability company, combined with the unique tax opportunities afforded to real estate owners, give taxpayers many opportunities to minimize their tax burden.

We are uniquely experienced to counsel taxpayers in making the right choice. Our expertise includes:

• Acquisitions and Dispositions of Partnership and LLC Interests
• Section 1031 Like-Kind Exchanges (including forward, reverse, and exchanges involving   tenant-in-common interests)
• Tax Deferred Installment Sales (including sales to related parties)
• Conservation Easements and Charitable Trusts
• Tax-Free Partnership Liquidations
• Spin-offs and Partnership Divisions
• Tax Deferral Techniques
• Capital Gains Tax Planning
• Asset Protection Planning for Real Estate
• Depreciation Recapture Minimization Planning
• Tax-Free Partnership Exit Strategies

From a tax standpoint, partnership entities (including limited liability companies) are very flexible. However, the partnership tax rules are extremely complex. Our attorneys are experienced in navigating these rules and developing tax-advantaged acquisition and disposition strategies.