Crucial Real Estate Tax Strategies WEBCAST - Washington Society of CPAs

Overview

Join Greg White and George Koutelieris, CPAs, as they walks through strategies for purchasing real estate, passive activity rules (including the exceptions for real estate professionals and short-term rentals, the self-employment tax exception for rental real estate, partial disposition losses, converting nondeductible interest expense to deductible interest expense, and like-kind exchanges. They’ll also cover how to break out the purchase price apportioned to improvements into its components: Building, land improvements and personal property. Finally, they’ll cover common issues with Airbnb properties and take a deep dive into claiming bonus depreciation, Section 179 and de minimis deductions on real estate.

Highlights

Apportionment of purchase price. Bonus depreciation, section 179 and de minimis expensing for real estate. Financing considerations, including whether clients should make the real property election out of section 163(j). Partial disposition losses. Deducting removal costs. Depreciating property acquired in a like-kind exchange. Converting nondeductible interest expense into deductible interest expense. Section 199A for rental real estate. Revenue Procedure 2019-38 “safe harbor” for rental real estate. Aggregating rental properties.

Prerequisites

None.

Designed For

CPAS and tax practitioners.

Objectives

Recognize the mechanics of apportioning purchase price as part of a purchase and sales agreement. Identify property that qualifies for bonus depreciation, Section 179 and de minimis expensing. Identify method to convert nondeductible interest into deductible interest expense. Recognize how to compute partial disposition losses. Recognize how to compute depreciation for property acquired in a like-kind exchange. Identify strategies for maximizing the QBID on real estate. Identify circumstances where the “safe harbor” for rental real estate may be beneficial to your clients. Identify appropriate circumstances for aggregating rental property for QBID purposes. Identify real estate professionals. Compute real estate losses allowed for active participants. Identify strategies for participating in like-kind exchanges.

Preparation

None.

Notice

None.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader Bios

George Koutelieris, Johnson & Shute PS

4.93 stars out of 5

“These 2 rock. [They are] prepared and knowledgeable.”
“George & Greg always do a great job! They are always super helpful.” - past attendees

George Koutelieris, CPA, is a shareholder with the firm Johnson & Shute P.S. He subsequently received his Master’s in Taxation from Golden Gate University graduating with Highest Honors in 2010 and being awarded the Outstanding Graduate Tax Student Award for the Seattle campus of Golden Gate. He is currently an Adjunct Professor at Golden Gate University teaching various tax courses. George’s practice includes planning and consulting on complex transactions including formations, liquidations, mergers and acquisitions, purchase and sales, multi-state and international tax for closely held businesses and their owners. In addition, George provides compliance and representation services before the IRS and various state taxing agencies for clients. George is also an active speaker on various tax topics, having presented in the past for Golden Gate University, the Washington Society of Certified Public Accountants, and the Oregon Society of Certified Public Accountants. George Koutelieris and Greg White are available to teach in-house courses in tandem for company CPE needs.

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Gregory White, President, WGN PS

4.96 stars out of 5
“These 2 rock. [They are] prepared and knowledgeable.”
“George & Greg always do a great job! They are always super helpful.” - past attendees

Greg White, CPA, has practiced tax accounting for more than 35 years. He is founder, shareholder, and President of CPA firm WGN, P.S. in Seattle, Washington, which serves a successful entrepreneurial client base. He also owns and operates State of the Art Tax, LLC, a tax education company. Greg is in his twelfth year as an Adjunct Professor at the Golden Gate University’s Seattle Campus. Greg is licensed to practice in and has argued cases before the U.S. Tax Court. He has been named a “Top 50” IRS Practitioner by CPA Magazine. Greg has extensively presented tax CPE, predominantly on the west coast, over the last decade and has written and presented live courses and webinars for CCH and others nationally. He has presented tax topics in the Pacific Northwest on TV including spots on KOMO TV and King TV.

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