VIRTUAL - Real Estate & Construction Conference (Morning Session)

Wednesday, June 29 8:25am - 12:20pm

(Check-In 8:15am)

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4.00 Credits

Member Price $149.00

Non-Member Price $214.00

Overview

Real estate is top of mind for many of your peers and clients. The economy has rapidly shifted from a pandemic-induced slowdown to an overheated race for labor and materials. Meanwhile, rising rates, supply chain disruptions, likely higher tax rates and an extended work-from-home culture are forcing real estate owners, developers, financiers and their advisors to re-set the calculus on their real estate assets. 

It’s never been more important to understand the array of complex tax provisions related to real estate and construction and how those provisions impact each other. 

This hands-on half-day (4.0 hour) virtual learning event (which includes interactive Q&A with presenters) emphasizes real-world case studies rather than academic theory. The focus will be on changes that impact the tax incentives related to cost segregation, EPAct 179D certification ASHRE audits, 45L credits, R&D tax credits, capital gain deferral through Opportunity Zones and 1031 reset elections and 163j interest limitation. Nationwide experts also deconstruct how to structure entities and real estate elections and property tax treatment related to economic incentives in your state.

Designed For

Tax, accounting, real estate and business professionals who are seeking strategies to mitigate taxes and maximize cash flow from their real estate assets (commercial and multi-family). Special emphasis on the needs of chief financial officers, corporate tax directors, controllers and CPAs in industry.

Prerequisites

Basic understanding of commercial and residential real estate tax deductions and tax credits

Notice

By registering for this program and, accordingly, receiving the eMaterials, you're acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

General Session

8:30am - 8:35am Hard Trends in CPA Practice Management, Real Estate & Construction

Rick Telberg Founder and CEO, Publisher and Editor, CPA Trendlines Bay Street Group LLC

Rick Telberg

Rick Telberg is a veteran analyst, advisor, commentator, editor, and publisher. He brings a unique background and perspective to research and advisory services for the professional services community.

Mr. Telberg may well be the accounting profession’s most widely-known commentator through his long associations with the American Institute of Certified Public Accountants, Accounting Today magazine, and today, CPA Trendlines.

As an expert in management, marketing, media and e-commerce, Mr. Telberg has served as Senior Editorial Director of Pro2Net Corp., now www.smartpros.com, and as Director of Online Content at CPA2Biz, www.cpa.com.

Previously, Mr. Telberg served as the early Editor-in-Chief of Accounting Today, and as Vice President/Group Publisher at Thomson Financial (now SourceMedia), overseeing Practical Accountant, Accounting Technology, and what is now AccountingToday.com.

Mr. Telberg was presented with a special citation by the National Society of Accountants for service to the profession and has served on a variety of boards and steering committees, including BKR International and the IBM Small Business Advisory Council. He is a graduate of New York University.

At CPA Trendlines, Mr. Telberg has gathered an elite team of professionals, including Glenn Alan Cheney, Beth Bellor and John Covaleski as senior editors and research analysts, Thomas Kothman as marketing director and strategic advisor, Jackson Whelan in digital strategies, and Rick Whelan of DittoDoesDesign.com as art director and brand guardian.

Presented by: Rick Telberg - Editor in Chief at CPA Trendlines

Impact of economy, interest rates, taxes, supply chain on U.S. real estate and construction. Real estate is top of mind for many of your peers and their clients. As the economy shifts, it’s never been more important to understand the array of complex tax provisions related to real estate and construction and how those provisions impact each other. You must also understand the unusual deadlines related to those provisions and the elections you advise your clients to take about those provisions. The ultimate benefit you provide is often determined by the timing and layering of these intricate provisions.

This session is available to registrants only.

General Session

8:35am - 9:00am Cost Segregation and Beyond with Tangible Property Regulations

Greg Bryant Senior Managing Director, Source Advisors

Greg Bryant

Greg Bryant is Senior Managing Director at Source Advisors where he is responsible for key client relationships and strategic development for the firm. Prior to the Source/Bedford merger, Greg was founder and Managing Partner of Bedford, having successfully established the firm as a recognized industry leader, guiding Bedford to the completion of more than 14,000 Cost Segregation studies, covering a wide range of property types and sizes. Combining experience in development, construction and engineering for more than four decades, Greg has a broad understanding of the commercial real estate industry, ranging from project conceptualization through construction and asset management. A graduate of Dawson College, Greg has also completed specialized real estate studies at the University of Texas at Arlington and Loyola University’s Sellinger School of Business in Baltimore, MD.

Greg is a Certified member and first president of the American Society of Cost Segregation Professionals (ASCSP), a nonprofit professional organization, where he has served as a member of the Board of Directors, Technical Standards Committee, and Testing Committee.

Presented by: Greg Bryant - Senior Managing Director of Source Advisors

Tax-centric management relates to an enhanced awareness of planned strategies related to improvements, upgrades, and re-positioning of real estate assets. Here’s how to use an integrated team approach related to accelerated depreciation, Partial Asset Disposition, and expense treatment for certain assets to maximize benefits for your organization or clients. The Tangible Property Regulations have provided taxpayers with numerous opportunities of offer value and implement annual programs for analysis.

This session is available to registrants only.

General Session

9:00am - 9:25am Gain Deferral Strategies Using 1031 Like Kind Exchanges and Opportunity Zones

Blake Christian Partner, HCVT LLP

Blake Christian

Blake brings over 35 years of experience providing tax consulting and compliance services to clients that include multinational, publicly-traded corporations, as well as closely held owner-managed businesses. Throughout his entire career, Blake has specialized in federal, state, and local tax incentive programs. Blake is leading the firm’s efforts in providing tax consulting services for Qualified Opportunity Zones. Blake and the HCVT OZ Team have been involved in the formation of over 50 Qualified Opportunity Funds and over 50 Qualified Opportunity Zone Businesses. They have also advised hundreds of other investors and professionals regarding the complexities of formation, operation, semi-annual testing and restructuring of QOFs and QOZBs.

As a thought leader, Blake has been recently interviewed by US News and World Reports and other national publications providing insights into this powerful, yet complex, tax incentive program and has authored several articles and HCVT Tax Alerts about Qualified Opportunity Zones (OZ) and Qualified Opportunity Funds. Blake has developed unique insights into OZ strategies for real estate developers and investors, as well as for operating business start-ups and expansions. In addition to tax incentive consulting, Blake provides partnership and individual tax planning and compliance services. His industry experience is broad and includes manufacturing and distribution, service companies, restaurant, shipping and transportation, energy, and healthcare.

Blake joined HCVT to open the firm’s Long Beach office over 25 years ago and opened the firm’s Park City, Utah office in 2014. Blake has served, in leadership positions on numerous community boards including the Long Beach Community Foundation as Vice-Chair, Cal State Long Beach Ukleja Center for Ethical Leadership Governing Council, and the Long Beach Rotary where he served as president. Blake is also an active member of the Long Beach Area Chamber of Commerce and served as chairperson and is a regular member of the Park City Rotary Club, The Egyptian Theater, and the Park City Chamber of Commerce. Blake was named as one of the Top 10 California Accounting Professionals in 2015 and 2014. The Long Beach Chamber of Commerce awarded Blake the 2016 Community Spirit Award for his economic development work and leadership in the California Enterprise Zone program. He was named as a 2020 Top 25 National OZ Influencer and was named a Top 25 OZ Tax Specialist two years in a row by OpportunityZone.com.

Blake is a frequent contributor to leading industry-related publications. TaxConnections.com named Blake as one of the Top 50 Tax Bloggers in the US. Blake has been a contributing columnist for the AICPA CPA Insider, a past columnist for the AICPA Corporate Tax Insider Newsletter, and is a regular contributor to the Long Beach Business Journal as well as numerous other publications. He has lectured at a number of universities, including the University of Southern California (MBT Program) and California State University Long Beach (Annual Tax Conference), BYU and the University of Utah, as well as various business and tax forums throughout the country. Blake has also been a technical resource for many news organizations, including USA Today, Los Angeles Times, Press-Telegram, KTLA News, Park City TV, KNX NewsRadio, and KFI Radio KPCW.

Blake began his career at KPMG LLP and was admitted to its partnership. Blake holds a master’s of taxation from the University of Southern California and a bachelor’s degree in accounting and a minor in finance from California State University, Long Beach. Active in both the Long Beach and Park City communities. Blake supports the fundraising efforts of LB and PC Rotary, the LB and PC Community Foundations, Plant LB, The Egyptian Theater/Save Our Stage, and the National Ability Center.

Presented by: Blake Christian, CPA/MBT - Partner at HCVT, LLC

Christian, an industry expert, will deconstruct the pros and cons of 1031s and Opportunity Zones in the current tax and real estate climate -- and when to apply each method for maximum tax deferral. 

Thanks to soaring real estate prices, now is an excellent time to consider §1031 exchanges, as a tax deferral strategy. However, there are important timing and tax considerations to weigh. 

While the 10% basis step up provision expired on 12/31/21, the federal Opportunity Zone program remains one of the most powerful gain deferral strategies for holders of all kinds of appreciated assets – not just real estate. Thanks to a longer timeframe to identify a place to reinvest their gains, the OZ program remains a valuable lifeline for “blown” 1031 exchanges – you will learn why. Christian will also discuss how cost segregation can enhance the annual and overall IRR on OZ investments and how the total elimination of depreciation recapture after a ten-year holding period turns the depreciation expense into a permanent rather than a temporary tax savings.

This session is available to registrants only.

General Session

9:25am - 9:35am Technical Reporting Requirements (1031 Reset Elections/Reporting with 163j Interest Limitation/Form 3115 Change of Accounting Method Applications)

Brian Coddington Dir. of Tax Accting Methods & Credits, Source Advisors

Brian Coddington

Brian Paul Coddington provides compliance, consultation, and audit representation services in the areas of tax accounting methods and credits. Mr. Coddington has represented taxpayers before the Internal Revenue Service in matters involving LIFO inventory methods, Uniform Capitalization (“UNICAP”), cost segregation, and research credit claims. He has represented clients before the I.R.S. National Office in numerous Accounting Method Changes. Mr. Coddington began his career at Source Advisors where he oversaw all tax technical research and provided technical support services, including audit representation, to all tax offerings. He then worked at a Big 4 firm in a national projects group that specialized in Federal inventory tax matters. In 2011 he became sole practitioner advising in the areas of tax accounting methods, research credit, and fixed asset issues. He is a frequent CPE presenter. Mr. Coddington is an Enrolled Agent, is a mediator in the state of Texas, and has pursued additional studies at Texas Wesleyan University School of Law.

Presented by: Brian Coddington - Director of Tax Accounting Methods & Credits at Source Advisors

When does it makes sense to reset the depreciable amount of investment property to a higher value that would provide a bigger tax benefit – and when it does not? The election of Section 163(j) can be a beneficial choice for real estate businesses that have a significant amount of interest expense and qualify to make the election, as it will allow taxpayers potentially to deduct more expenses than they would be able to deduct otherwise. Will also discuss biggest mistakes and misconceptions concerning role of Form 3115 (change in accounting method) when it comes to using cost segregation and other tax provisions for lookback to prior years.

This session is available to registrants only.

General Session

9:35am - 10:00am Application of Tax Incentives for Cash Flow Related to Energy with 179D (including Primary Designers), 45L Tax Credits, ASHRAE Audits, and Green MIP

Karen Koch Senior Director, Source Advisors

Karen Koch

Karen is a recognized expert in tax treatment of fixed assets for commercial real estate and tax incentives for energy efficient real estate, who has worked in public accounting and private industry for more than 25 years. As a CPA with a with a Masters in Taxation and an in-depth understanding of the engineering process, Karen creates unique planning strategies for a wide array of clients. She is particularly qualified to assist both internal and external accounting teams, delivering solutions throughout the real estate life cycle; seamlessly integrating fixed asset analysis and enhanced cost segregation studies with tax incentives for energy efficient building improvements to produce immediate and recurring financial benefits for clients nationwide. Karen has lectured extensively on cost segregation and related tax-planning strategies for numerous industry groups and associations including the American Institute of Certified Public Accountants (AICPA), CREW Network, and numerous state CPA societies. She continues to provide regular in-house training to accounting firms throughout the United States.

Imran Syed Director, Source Advisors

Imran Syed

Imran joined Source Advisors as an energy modeler and cost segregation consultant in 2010. He is currently a senior manager in the cost segregation department and is the director of §179D. Prior to joining Source Advisors, Imran was a mechanical engineer at HMS Engineering in Chicago. He has more than 11 years of experience in sustainability and energy-efficient buildings and is a LEED Accredited Professional and a licensed professional engineer. He received a master’s degree in mechanical engineering from the University of Michigan.

Presented by: Karen Koch, CPA, MT - Senior Director at Source Advisors

Imran Syed, P.E., LEED AP, CEM, HERS Rater - Senior Director, Energy Services at Source Advisors

Experts will discuss tax incentives related to energy efficient commercial and residential buildings. EPAct 179D is a permanent provision that can benefit owners of newly constructed buildings or buildings with major renovations. For government owned buildings, the benefit can be allocated to the primary designer. For energy efficient residential properties, the developer can qualify for significant tax credits in the year the unit is first leased or if the home is sold. Pressure to lower operating costs and reduce our environmental footprint leaves us confused about how to do either. Often an ASHRAE audit can provide the data to know where to focus energy dollars to impact the bottom line. With interest rates rising, HUD financing offers special rate reductions for properties certified with a Green MIP study. Initial design can influence how we maximize these incentives and how we claim them.

This session is available to registrants only.

General Session

10:15am - 10:40am Structuring Entities and Real Estate Elections

Stephen Lukinovich Partner, MCM CPAs & Advisors

Stephen Lukinovich

Stephen Lukinovich serves as Director of the firm’s Real Estate Services Team and Transportation-Logistic Services Team and is a member of the Tax Services Department. He is also the Partner-in-Charge of the Jeffersonville office. His practice emphasis is providing tax advisory services to real estate businesses, company transition services to small- to middle-market companies, and valuation services in estate and succession planning. Stephen is an active speaker and lecturer on topics related to the real estate industry.

Education and Certifications:

*University of New Orleans – Bachelor of Science in Accounting

*Certified Public Accountant (CPA)

*Personal Financial Specialist (PFS)

*Certified Valuation Analyst (CVA)

*Series 7 and 66 Licenses

*Indiana and Kentucky Life Insurance Licenses

Professional and Community Associations:

*Founder, Real Estate Venture Exchange (REVE)

*Co-Founder, Midwest Opportunity Zone Forum

*Board Member, Metro United Way, Kentucky

*Board Member, Leadership Southern Indiana

*Treasurer, CCIM – Kentucky Chapter

*Treasurer, Urban Land Institute, Kentucky

*Treasurer, Grace Fellowship Church

*Member, Indiana Society of CPAs

*Member, American Institute of Certified Public Accountants

*Member, One Southern Indiana Economic Development Council

*Member, GLI Bi-State Committee

*Member, Conexus Indiana Logistics Southeast Regional Council

*Member, U.S. Green Building Council, Indiana

*Alumni, Leadership Southern Indiana

*Former Trustee, KyCPA, Education Foundation

*Former Board Member and Officer / Treasurer, Venture Connectors of Louisville, Inc.

*Former Chair, Metro United Way Southern Indiana Campaign

*Former Board Member, Chamber of Commerce of Harrison County, Indiana

*Former Chair, March of Dimes REACH Awards

*Former President, Kentucky Society of Certified Public Accountants

*Former Chair, Small Business Development, Federal Taxation, Firm Development and Administration Committees, KyCPA

*Former Trustee, Kentucky Institute on Federal Taxation, Inc.

Awards and Recognition:

*2018 Kightlinger & Gray, LLP Sam Day Professional of the Year ACE Award, One Southern Indiana

*2008 Outstanding Chair, KyCPA Small Business Committee

Andy Ackermann Partner, MCM CPAs & Advisors

Andy Ackermann

Andy is MCM’s Real Estate Services Team Co-Leader and a partner in our firm’s Tax Services Department with more than 15 years of experience.

His client focus is in multi-state, affordable housing and community development, with emphasis in low-income housing tax credits, historic tax credits, and new market tax credits. Andy also has significant experience on entrepreneurial and start-up businesses.

Education and Certifications:

*Hanover College – Bachelor of Arts (emphasis in Accounting)

*Certified Public Accountant

*Certified Valuation Analyst

Professional and Community Associations:

*Member, American Institute of Certified Public Accountants

*Member, Kentucky Society of Certified Public Accountants

*Member, National Association of Certified Valuation Analysts (NACVA), Salt Lake City

*Former Finance Committee Chair, Salvation Army

*Former Treasurer, Venture Club of Louisville

*Board Member, Treasurer, Philip Hayden Foundation

*Board Member, Treasurer, Million Meal Movement, Inc.

*Board Member, Barnabas Care Ministry

Awards and Recognition:

*Kentucky Commercial Real Estate Conference, 2015 – 2021

*Choice of Entity – A Tax Perspective, University of Louisville

*New Market Tax Credits, Kentucky Society of CPAs, Real Estate Conference 2017

*Accounting 101, Small Business Development Center

*Starting a Business, ONE Southern Indiana Small Business Conference

*Year End Tax Planning 2009, Kentucky Society of CPAs

Presented by: Stephen Lukinovich, CPA, PFS, CVA - Partner at MCM CPAs & Advisors, LLP

Andy Ackermann, CPA, CVA - Partner at MCM CPAs & Advisors, LLP

Experts that structure and design these solutions for their clients, will give us firsthand examples of how to incorporate various elections and best entity structures to maximize benefits., An economic unit election is one of the most important decisions real estate investors and their advisors will make in the first year of a real estate asset. Learn what to do if the election is missed and when not to make it. Also understand the pros and cons of qualifying as a real estate professional for federal income tax purposes. The historic and low-income housing credits are critical incentives for real estate development projects. Learn how these incentives are used in projects and how they can close funding gaps in a project’s capital stack. See what a typical organizational structure looks like and how long investors must be involved in the projects.

This session is available to registrants only.

General Session

10:40am - 11:00am Bundled Planning Opportunities for Capital Intensive Companies: Econ. incentive procurement, prop. tax review & cost seg. to maximize future benefits

Karen Koch Senior Director, Source Advisors

Karen Koch

Karen is a recognized expert in tax treatment of fixed assets for commercial real estate and tax incentives for energy efficient real estate, who has worked in public accounting and private industry for more than 25 years. As a CPA with a with a Masters in Taxation and an in-depth understanding of the engineering process, Karen creates unique planning strategies for a wide array of clients. She is particularly qualified to assist both internal and external accounting teams, delivering solutions throughout the real estate life cycle; seamlessly integrating fixed asset analysis and enhanced cost segregation studies with tax incentives for energy efficient building improvements to produce immediate and recurring financial benefits for clients nationwide. Karen has lectured extensively on cost segregation and related tax-planning strategies for numerous industry groups and associations including the American Institute of Certified Public Accountants (AICPA), CREW Network, and numerous state CPA societies. She continues to provide regular in-house training to accounting firms throughout the United States.

Joshua Malancuk President, JM Tax Advocates LLC

Joshua Malancuk

Josh is a state property tax specialist who has significant experience with delivering property tax reduction opportunities in the areas of real and personal property tax reviews, compliance, and economic incentives.

He brings extensive experience in real and personal property tax appeal advocacy, real estate appraisal and testimony, economic incentive procurement and audits, property tax compliance planning and delivery, business combination property tax due diligence and research, fixed asset reviews and planning, property tax accrual reviews and planned value estimates, and Sarbox 404 property tax compliance control evaluation.

Josh is currently the President of JM Tax Advocates LLC, in Indianapolis, IN. Prior to that, he gained 20 years of property tax experience in public accounting including serving as an Executive and National Practice Leader with Crowe Horwath LLP, as a Director with PricewaterhouseCoopers, as Manager with Deloitte & Touche, and as a Senior Associate with Geo S. Olive.

Josh has taught at the Institute for Professionals in Taxation. He has been a speaker for the National Symposium regarding FAS 141 and Property Tax Consequences of Business Combinations as well as the National Business Institute of Indianapolis, IN regarding Indiana Property Tax Updates and is active in the Indiana Chamber in Indianapolis and the Indiana Manufacturers Association.

Josh holds a Bachelors of Science from Indiana University in Business Accounting.

Presented by: Josh Malancuk, CPA, CMI - President at JM Tax Advocates

Karen Koch, CPA, MT - Senior Director at Source Advisors

Experts will explore how leveraging three areas – property tax, incentives, and asset segregation can bring significant benefits to your growing business. Special emphasis on state specific planning considerations and integrated planning can be used as a tool for maximum tax relief.

This session is available to registrants only.

General Session

11:00am - 11:20am R&D Tax Credits in the Construction Industry

Max Vignola Director of Technical Sales, Source Advisors

Max Vignola

Max joined Source Advisors in May 2021 and currently works as a Director of Technical Sales. He has more than 14 years of experience working with taxpayers of all industries to qualify and quantify R&D Tax Credits. Max specializes in the analysis and application of the R&D Tax Credit as it applies to each taxpayer.

Prior to joining Source Advisors, Max was the Director of Tax and R&D at Bedford Cost Segregation. In this role, he ensured that the studies being performed were done so in line with the most current tax legislation. Additionally, Max was responsible for the development and growth of the R&D Tax Credit practice at Bedford.

Max has reviewed, worked or managed over 2,000 special incentive studies in his career. He holds a BS in Accounting and a Masters in Forensic Accounting from Southern New Hampshire University.

Alex Pak Director, Source Advisors

Alex Pak

Alex joined Source Advisors in 2013 as an R&D Project Manager and in 2016 expanded his role to Director in the R&D Tax Credit Consulting department. He has over a decade of dedicated experience with the R&D tax credit. His primary responsibilities include conducting preliminary evaluations for R&D qualification in addition to managing and executing projects for a wide range of industries. Alex holds a BA in English and a BA in Comparative Literature from the University of California, Irvine and is fluent in Korean.

Presented by: Max Vignola, CCSP - Director of Technical Sales at Source Advisors

Alex Pak - Director at Source Advisors

This presentation will cover the basic concepts of the Research & Development Tax Credit and how those in the architectural, engineering, or construction services industry can qualify. 

Understand common misconceptions regarding R&D Tax Credits. We will cover R&D new rules for 2022. Presenters will also discuss various online software tools available for start-up or smaller companies.

This session is available to registrants only.

General Session

11:20am - 11:35am Turnkey Case Study (With flowchart demonstrating how many of the techniques discussed today can work together)

Karen Koch Senior Director, Source Advisors

Karen Koch

Karen is a recognized expert in tax treatment of fixed assets for commercial real estate and tax incentives for energy efficient real estate, who has worked in public accounting and private industry for more than 25 years. As a CPA with a with a Masters in Taxation and an in-depth understanding of the engineering process, Karen creates unique planning strategies for a wide array of clients. She is particularly qualified to assist both internal and external accounting teams, delivering solutions throughout the real estate life cycle; seamlessly integrating fixed asset analysis and enhanced cost segregation studies with tax incentives for energy efficient building improvements to produce immediate and recurring financial benefits for clients nationwide. Karen has lectured extensively on cost segregation and related tax-planning strategies for numerous industry groups and associations including the American Institute of Certified Public Accountants (AICPA), CREW Network, and numerous state CPA societies. She continues to provide regular in-house training to accounting firms throughout the United States.

Presented by: Karen Koch, CPA, MT - Senior Director at Source Advisors 

Using the concept of a team approach, you will learn the timing and layering of various provisions discussed in this conference.

This session is available to registrants only.

General Session

11:50am - 12:20pm Roundtable Q&A Session

Expert panel reconvenes to discuss your state-specific tax issues (and opportunities) related to real estate and construction.

This session is available to registrants only.

Non-Member Price $214.00

Member Price $149.00

Registration for this event is closed.