Tax Planning for Rental Real Estate
Live Virtual Seminar
4.00 Credits
Member Price $210.00
Price will increase by $50 on 9/29
Non-Member Price $270.00
Price will increase by $50 on 9/29
Overview
The taxation of real estate is tricky. Taxpayers can own real estate in a number of different ways, including direct and indirect investments. There are numerous exceptions to being classified as a rental activity. How do you know if someone is a real estate professional? This course explores all these issues and many more. Through real-world examples and discussion, learn the exceptions to rental status, qualifications for material participation, and requirements for active status. Additionally, we will cover the QBI and Section 1237 safe harbors and touch on some planning ideas related to depreciation recapture.
Highlights
- Rental activities and passive activities
- Material participation
- Real estate professional status
- Active participation status
- Depreciation recapture – Sections 1245, 1250, and 291
- Vacation homes rented out
- QBI deduction and rental properties
- Section 1237 safe harbor for divided parcel sales
- Practitioner considerations
Prerequisites
None
Designed For
Accounting and finance professionals who wish to know about the taxation of rental real estate
Objectives
- Understand exceptions to rental status
- Identify the different types of depreciation recapture that apply to rental properties
- Recognize tax planning opportunities for personal and vacation properties
- Identify how the Section 1237 safe harbor may be used to avoid ordinary income tax treatment on divided land parcel sales
Leader(s):
Leader Bios
Joseph Nicola
Joe Nicola is a Tax Partner with more than thirty-five years of experience in public accounting. Joe has experience in many diverse areas of taxation, including the taxation of and planning for individuals, family offices, and various forms of business entities, such as corporations, partnerships, and limited liability companies. Joe is particularly experienced in federal and multi-state tax matters that affect numerous industries and niches, including private equity, investments, natural resources, manufacturing, distribution, high technology, securities, and start-up businesses. He has consulted on technically complex matters, such as retirement planning, succession planning in the context of a family office, securities, partnership and corporate reorganizations and liquidations, and international tax matters. While in public practice, Joe also served for many years as an adjunct member of the faculty with Duquesne University’s MBA and Master of Science in Taxation/Accountancy programs, as well as with Robert Morris University’s Master of Taxation program. His course load included Corporate Taxation, Advanced Corporate Taxation, Reorganizations (Mergers and Acquisitions), Taxes as a Basis of Managerial Decisions, and Taxation of Derivatives. He is also a published author of CPE/CLE texts and industry articles, and a frequent professional speaker. Mr. Nicola received his BS degree in Business Administration from Robert Morris University and his JD degree from the University of Pittsburgh School of Law.
Non-Member Price $270.00
Member Price $210.00