This seminar will include an overview of the tax deferral rules under Code Section 1031, a discussion of how the new Florida LLC Act could impact real estate transactions, a survey of Chapter 201, general overview of the Foreign Investment in Real Property Tax Act, Code Section 1411, and the key tax rules that govern investments in real estate by REITS and tax-exempts, with a focus on the fractions rule, carried interests and related partnership tax issues.
8:15 a.m. - 8:40 a.m.
8:40 a.m. - 8:50 a.m.
Welcome and Introduction
8:50 a.m. - 9:40 a.m.
The Tax Deferral Regime under Code Section 1031
Maria Ferrao, Naples
An overview of the tax deferral rules under Code Section 1031, including (i) exceptions for certain types of exchanges, (ii) like-kind exchanges with boot, (iii) the allocation of basis rules, and (iv) the interaction of Code Sections 1031 and 453.
9:40 – 10:50
The Impact of the New Florida LLC Act on Real Estate Transactions
Gregory M. Marks, Sarasota
A discussion of how the new Florida LLC Act could impact real estate transactions, with a focus on management structures, actual and apparent agency and operating agreements.
10:50 a.m. - 12:00 p.m.
Florida Documentary Stamp Taxes
Burt Bruton, Miami
A survey of Chapter 201, covering Florida documentary stamp taxes affecting transfers of real property and affecting notes and mortgages. Presentation will range from basic stamp tax concepts to more sophisticated topics, including “conduit entities,” transfers of real property between related parties, taxation of mortgage modifications and apportionment of mortgage taxes in multistate secured transactions.
12:00 p.m. - 1:00 p.m.
Lunch – On your own
1:00 p.m. - 1:50 p.m.
Planning for Foreigners Purchasing U.S. Real Estate: FIRPTA, Estate Tax and Other Important Issues
Shawn Wolf, Coral Gables
The most frequent question asked by a foreign investor looking to buy U.S. real estate is: “How should I take title to the property?” This question is usually followed by the following statement: “I hear that the best way is to …..”. Although this presentation will not give you the “best” answer, it certainly will: (1) provide a general overview of the Foreign Investment in Real Property Tax Act (“FIRPTA”); and (2) discuss a variety of planning alternatives and the related U.S. tax (both income tax and estate tax) and non-tax planning considerations.
1:50 p.m. - 2:40 p.m.
The Impact of the New 3.8% Net Investment Income Tax on Trusts, Family Businesses and Rental Activities: The Proposed Regulations Raise Many Questions and Provide a Few Answers
Richard Dees, Chigago
This session will focus on Code Section 1411 and the regulations thereunder, with a focus on how these rules impact trusts, family businesses and rental activities.
2:40 p.m. - 2:50 p.m.
2:50 p.m. - 3:40 p.m.
Investments by REITS and Tax-Exempts in Real Estate: What You Need to Know
William R. Siegel, Miami
This session will address the key tax rules that govern investments in real estate by REITS and tax-exempts, with a focus on the fractions rule, carried interests and related partnership tax issues.
3:40 p.m. - 4:30 p.m.
Moderator: Joel Maser, Orlando
Tax Planning Brochure 7-2013.pdf