Tax Planning for Real Estate Transactions
Clients regularly seek our counsel regarding the tax planning aspects of the acquisition, financing, leasing, and disposition of real estate. Our lawyers are all well versed and routinely engaged in tax-deferred exchanges of real estate pursuant to Section 1031of the Internal Revenue Code. Those engagements include serving as counsel for the exchanging taxpayer, serving as qualified intermediary, acting as special counsel to lawyers outside our firm whose clients are involved in exchange transactions, and serving as exchange accommodation titleholders in reverse exchanges. Other aspects of our real estate tax planning practice include advice regarding the tax deferred reinvestment of condemnation proceeds or proceeds from sales under threat or imminence of condemnation in accordance with Section 1033 of the Internal Revenue Code, planning to maximize capital gains versus ordinary income upon the sale of real property, conservation easements, and part-gift/ part sale transactions with charitable organizations.
