Real Estate Taxation: Critical Considerations

Overview

This course is a ‘deep dive’ into many aspects involving the taxation of real estate for the mid-level practitioner moving into this complex area. You will deepen your understanding of the complex considerations and strategies that individuals must navigate in acquiring, operating, and selling real estate. You will leave the course able to navigate critical issues associated with the relevant returns and plan strategically for your company or clients. We will discuss in detail the impact that recent tax changes have had on the real estate industry, as well as new credits that are available after the Inflation Reduction Act of 2022.

Objectives

Understand the most commonly used forms of ownership for real estate holdings and the scenario-based advantages and disadvantages of each

Know and be able to apply the key considerations in determinations surrounding depreciation and recapture, like-kind exchanges, and the determination of passive activity losses

Recognize how recent tax legislation impacts commercial real estate

Recognize how recent tax legislation impacts homeowners

Identify components for determing a property's tax basis

Highlights

The impact of recent tax legislation on the real estate industry

Depreciation and recapture

Determining the basis when acquiring real estate

Passive activity losses

Calculation of gain or loss on sale of real estate

Rental operations

Installment sales

Designed For

Accounting and Finance Professionals who advise clients or their company on issues related to the acquisition, operating, and selling of real estate

Prerequisites

Some experience preparing tax returns involving real estate holdings and transactions

Preparation

None

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.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

John Kilroy, Surgent McCoy CPE, LLC

Leader Bios

John Kilroy, Surgent McCoy CPE, LLC

John Kilroy is a managing member of iValue Financial Planning LLC, located in the Philadelphia, Pennsylvania area. John engages clients in financial and tax planning, as well as preparing tax returns for individuals, corporations, partnerships, estates, and trusts. John is a CPA and a CFP® practitioner. He is a 1979 graduate of Villanova University with a BS in Accounting. John is a member of the Pennsylvania Institute of Certified Public Accountants and the Financial Planning Association (FPA). Within the FPA, John has served as a board member of the Philadelphia Tri-State chapter and on its education and finance committees. John is an adjunct faculty member for the Temple University Certificate of Financial Planning Program. He is a frequent speaker and facilitator on tax and financial planning topics. John has been quoted in the Wall Street Journal, MarketWatch.com, and USATODAY.com. He has written for the Journal of Financial Planning, and is a contributor to Retirement Weekly. John has also discussed financial and tax planning issues on various radio outlets.

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