2020 Tax year in review
This session will review the latest developments in 2020 – REIT Developments, Section 1031 Exchanges, CARES Act (QIP and Interest Expense), Opportunity Zones, Carried Interests
Richard Levine, DLA Piper, Robert Schachat, EY, Richard Lipton, Baker McKenzie, Andrea Whiteway, EY, Steve Sharkey, DLA Piper
This session will cover the debt ceiling, estate taxes, tax credits, revenue raisers, and other topics important to real estate and taxpayers in general have a direct impact on clients’ current and future actions.
Ryan McCormick, RE Roundtable
Maryland Pass-Through Tax Election
The recent passage of the legislation allows Maryland pass through entities (“PTEs”) such as partnerships and S-Corporations will now have an option for the entity to elect to pay Maryland state income tax instead of the tax being paid by the entity owner(s). Find out the benefits and possible drawbacks.
Norman Lencz, Walter Calvert, Liz Stieff, Venable
Joint Ventures – Structures and Drafting
The law provides the parties with great flexibility in structuring such a relationship. This session will help practitioners drafting such agreements and points out the five pitfalls to avoid when drafting real estate joint venture agreements.
Steven Schneider and Samuel Grilli – Baker McKenzie
Qualified Leasehold Improvements (QIP): An Underutilized Gem
The new rules under the CARES Act modify the depreciable life of assets falling under this category from 39 years to 15 years, which makes Qualified Leasehold Improvements (QIP) eligible for bonus depreciation and offers taxpayers significant tax-reduction opportunities.
Douglas Coats, Gordon Feinblatt
Carried Interest Holding Period Regulations
The IRS has issued proposed regulations (REG-107213-18) on the new holding period for carried interest under Section 1061, providing much-awaited guidance on numerous issues, but also leaving several questions unanswered. This session will address the proposed regulations are complex and should be analyzed carefully for their application and implications. Partnerships will need to be especially mindful of holding period considerations when considering both asset disposition and acquisition transactions, as well as other monetization considerations.
Brian O’Connor, Christopher Davidson – Venable