Taxation of Real Estate & Dealing with Troubled Real Estate [REST/DTRE]

Full Description

Taxation of Real Estate ~Sophisticated Techniques and Dealing with Troubled Real Estate

August 23, 2012

Location:
Alaska Society of CPAs
341 West Tudor Rd. #105
Anchorage, Alaska

$295 Member Fee
$445 Non Member Fee

The morning session will address a number of tax issues involving sophisticated techniques for real estate. In the afternoon the topics will cover why real estate investments do not always produce profits. In fact, sometimes, they produce meaningful losses. Owners often face a variety of problems including falling real estate values, the moving of their key tenants, repairs, lawsuits, natural disasters, mortgage debt, lack of liquidity, etc. This course focuses on how to deal with troubled real estate.

Learning Objectives: Morning Session
Explain sophisticated techniques in planning for the acquisition or disposition of real estate
Determine when the original issue discount and imputed interest rules apply
Analyze when a sale leaseback will be respected and when it will be re characterized
Explain the special rules applicable to related party transactions
Summarize the special rules applicable to lease arrangements
Explain the rules governing Foreign Investments in U.S. Real Property (FIRPTA)
Describe the rules governing casualty, condemnation, demolition, or other involuntary conversion
Note the lesions to be learned from court cases and IRS rulings

Learning Objectives: Afternoon Session
Explain how to identify troubled real estate
Set forth the relevant facts to obtain
List the important sources of information
Identify the common causes for trouble
List the factors to consider in refinancing the property
Explain the pros and cons of a workout vs. a bankruptcy filing
Set forth the tax consequences of debt restructurings
Summarize how to prepare the property for sale

Who Will Benefit:
CPAs
Level of Knowledge: Morning session Intermediate/Advanced Afternoon Session Basic
Prerequisite: None
Advanced Preparation: None
Credits: 8
Field of Study: Tax/Technical Consutling
Acronym: REST/DTRE
Discussion Leader: Dennis J. Gerschick, CFP, CPA, PFS, J.D.
Dennis is an attorney, CPA, Chartered Financial Analyst and Venture Capitalist. Dennis earned his degree from Florida Atlantic University and worked for Ernst and Young before attending law school. After graduating from Drake University Law School in 1983 he worked in the tax department of Powell, Goldstein, LLP. In addition to speaking at seminars, he provides financial, business and investment advice to individuals and companies through Gerschick Wealth Management, LLC. Mr. Gerschick has served the AICPAs Business Valuation Subcommittee where he worked with some of the countrys recognized experts in the business valuation area.

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