2022 Real Estate Tax Conference

Originally presented on October 28, 2022, as a live webcast and in person at The Ritz-Carlton Golf Resort 2600 Tiburon Drive, Naples, during the Tax Section’s 2022 Fall Meeting. The program is available for purchase 24/7 in The Florida Bar InReach catalog as an online seminar (on-demand) and downloadable audio.

Thank you to Program Co-Chairs Christopher Callahan and Abrahm Smith. Course number 6217 is approved for 7 General CLE hours and 7 credits each in Real Estate; Tax Law; and Wills, Trusts & Estates.
 

SCHEDULE

Chair’s Welcome
Mark R. Brown – 8:30-8:40 AM

Selected Topics in Estate and Transfer Tax Planning
Jolyon Acosta – 8:45-9:35 AM (Followed by 9:40-9:50 AM Sponsor Introductions)

The presentation will focus on estate planning considerations involving real estate. Selected topics will include transfer taxes, basis step-up, the use of trusts, and Homestead issues. The presentation will explore a handful of fact patters a practitioner may encounter and practical considerations in structuring transactions.

Alternate Real Estate Investment Capitalization Structures
Manuel Fernandez – 9:55-10:45 AM (Followed by 10:50-11 AM Sponsor Introductions)

The presenter will discuss how real estate developers and investors use alternate capitalization strategies to fund projects. The presentation will cover numerous subjects, but will focus on how ground leases can be used to structure real estate investments. In addition, the presenter will discuss a unique cross border method of capitalization – the issuance of bonds in Israel.

Tax Structuring for U.S. Real Estate Funds with Chilean GPs and Investors
Chris Callahan and Scott Snyder – 11:05-11:30 AM (Followed by 11:35-11:55 AM Break)

This presentation will provide tax planning techniques used for Chileans who engage in investment in real estate (particularly through funds) in the United States. Chile is a very unique jurisdiction as it the U.S. Senate is expected to ratify an income tax treaty between the countries shortly. This would be the first U.S. income tax treaty entered into force in over a decade. As such, this presentation will explore the differences in tax planning under current rules (i.e., pre-ratification of treaty) and how the planning may change once the treaty is ratified.

Tax Structuring for U.S. Real Estate Funds German Foreign GPs and Investors
Chris Callahan and Scott Snyder – 12-12:25 PM (Followed by 12:30-12:55 PM Lunch Service)

This presentation will provide tax planning techniques used for Germans who engage in investment in real estate (particularly through funds) in the United States. Germany is a relatively unique jurisdiction as it has both an income tax treaty and estate/gift tax treaty with the United States. As such, the speakers will explore some of the advantages and challenges that the treaties provide German investors/fund manager.

Deferring Taxes and Building Generational Wealth in Real Estate Utilizing the 1031 Tax Code and Delaware Statutory Trusts as an Investment Solution
Joe Kingsley – 1-1:50 PM – Luncheon Presentation

This presentation will provide a description of the IRC Section 1031 process. In addition, it will discuss the basics of using Delaware Statutory Trusts as a tool when implementing IRC Section 1032 transactions. Finally, the presenter will discuss what type of clients may benefit from this type of strategy, and how they can implement it in a correct manner.

Documentary Stamps 2.0
Burt Bruton – 2-2:50 PM

This presentation will discuss Florida Documentary Stamps Tax applicable to certain transfers of interests in real estate. In addition, the presentation will discuss certain traps for the unwary, as well as planning techniques that can help clients to minimize exposure to Documentary Stamps Tax.

Corporate Transparency Act and Real Estate Structures
Abrahm Smith – 2:55-3:45 PM (Followed by 3:50-4:05 PM Break)

This presentation will discuss the new Corporate Transparency Act, specifically as it relates to commonly used real estate structures. This new law requires disclosure of beneficial ownership of certain companies and individuals who formed the companies.

Real Estate Tax Planning for Puerto Rico Bona Fide Residents
Jeff Rubinger – 4:10-5 PM

This presentation will discuss the tax benefits and challenges related to clients who move full-time to Puerto Rico, basic rules and how to implement them for your clients, and tax planning techniques that may result in significant tax savings if structured properly.