Distressed real estate presentation version

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Tax presentation at San Francisco Commercial Real Estate Distressed Asset Opportunity Summit at the Fairmont Hotel on April 27

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Distressed real estate presentation version

  1. 1. Pitfalls and opportunities in distressed assets - legal & tax panel<br />Roger Royse<br />Royse Law Firm, PC<br />1717 Embarcadero Road<br />Palo Alto, CA 94303<br />rroyse@rroyselaw.com<br />www.rroyselaw.com<br />www.rogerroyse.com<br />Skype: roger.royse<br />Commercial Distressed Assets & Opportunities Conference<br />April 27, 2011<br />IRS Circular 230 Disclosure: To ensure compliance with the requirements imposed by the IRS, we inform you that any tax advice contained in this communication, including any attachment to this communication, is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to any other person any transaction or matter addressed herein.<br />
  2. 2. 2<br />Topics for Consideration<br />Sellers / Owners of Underwater Assets<br />Buyers / Investors in Underwater Assets<br />Partnership Workouts<br />Tax Issues in Bankruptcy<br />Update on California Tax Laws<br />
  3. 3. 3<br />Sellers / Owners of <br />Underwater Assets<br />Loan Restructuring<br />Third Party Investment<br />Tax Rate Changes<br />Abandonment / Loss / Worthlessness<br />Foreclosure / Bankruptcy / Liens<br />
  4. 4. 4<br />Buyers / Investors in <br />Underwater Assets<br />Tax Liabilities in Due Diligence <br />Section 382 Limitations<br />Tax Issues in Sales<br />Debt Investments<br />Related Party Purchases / Investments<br />
  5. 5. 5<br />Partnership Workouts<br />Cancellation of Debt (COD) Income<br />Discharge of Liabilities<br />Partner Debt<br />Passive Activity Loss Limitation Rules<br />At-Risk Loss Limitation Rules<br />
  6. 6. 6<br />Tax Issues in Bankruptcy<br />Tax Advantages of Bankruptcy<br />Reduction of Tax Attributes<br />Discharge as a Purchase Price Adjustment<br />Priority tax claims are nondischargeable in bankruptcies involving individuals<br />
  7. 7. 7<br />Update on California Tax Laws<br />California SB 401<br />California SB 848<br />California Prop. 24<br />
  8. 8. 8<br />PALO ALTO<br />1717 Embarcadero Rd.<br />Palo Alto, CA 94303<br />LOS ANGELES<br />11150 Santa Monica Blvd.<br />Suite 1200<br />Los Angeles, CA 90025<br />LOS ANGELES<br />10900 Wilshire Blvd.<br />Suite 300<br />Los Angeles, CA 90024<br />SAN FRANCISCO<br />33 New Montgomery St.<br />Suite 1530<br />San Francisco, CA 94105<br />www.rroyselaw.com<br />

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