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Course/Product Description
Title:

Real Estate Investment Trusts: Their Uses and Basic Tax Rules

SKU:WC-1020214
Date / Time: Recorded
Format: Webinar
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Description:

REITs are the investment vehicle of choice for holding interests in a diversified portfolio of real estate properties, as opposed to owning an interest in a single property.

Estimates are that more than $300 billion are currently invested in publicly traded REITs and more than $70 billion are invested in nontraded REITs.

As the interest in alternative assets rises and real estate is being increasingly examined as presenting a significant gain opportunity given current market conditions, more investors, including nontraditional real estate investors, such as retirement plans and charitable organizations, are examining the ownership of REIT shares as part of their portfolio.

Learn about the uses, advantages and disadvantages of the REIT structure for owning real estate. Hear a discussion of the basic tax rules that relate to REIT formation and operation, including the organizational rules, asset tests, income tests, distribution requirements, and the taxation of the REIT and its shareholders.

Certain structural alternatives associated with REITs, including the use of subsidiaries, QRSs and TRSs, and partnerships, UPREITs and DOWNREITs, will be reviewed.

A discussion of changes made to the REIT provisions in the Protecting Americans from Tax Hikes Act of 2015 (signed 12/18/2015) will be included.

Agenda

REITs - General Concepts

  • Uses
  • Advantages and Disadvantages Compared to Other Investment Vehicles for Real Estate
Formation and Organization Rules
  • Structure of Entity
  • Management by Directors
  • Shares
  • Transferability
  • Number of Shareholders
  • Closely Held Restriction
  • Corporate Tax Issues
  • Classification Rules
  • Distribution of E&P
  • Election
  • Other Tax Issues at Outset
  • No Financial Institution or Insurance Company
  • Calendar Tax Year
Qualification Rules
  • General
  • Asset Tests
  • Income Tests
REIT Subsidiaries
  • QRS
  • TRS
Required Distributions
  • 90 Percent Test
  • Timing of Dividends
Taxation of REITs and Their Shareholders
  • REIT Taxation
  • REIT Shareholder Taxation
Partnerships Used in REIT Structures
  • UPREITs
  • DOWNREITs
About The Presenter

Leo N. Hitt
  • Partner in the Pittsburgh office of Reed Smith LLP
  • Member of its tax practice and former head of the Tax, Benefits and Wealth Planning Group
  • Practice emphasizes all aspects of federal income taxation, with particular emphasis in the taxation of business entities, such as partnerships and corporations, securitized and other investment vehicles, including RICs, REITs and REMICs
  • Conducts seminars and workshops on numerous topics for a large number of professional groups, including lawyers, accountants and business people
  • Wrote several publications related to the areas of the federal income taxation of business entities and other related topics
  • Adjunct professor at the University of Pittsburgh School of Law
  • Listed in Best Lawyers in America for tax law for more than 10 years and achieved the highest rating by Martindale-Hubbell Law Directory
  • Board of the Pittsburgh Tax Club and member of the Allegheny Tax Society
  • J.D. degree, University of Pittsburgh School of Law; LL.M. degree, New York University School of Law; B.A. degree, University of Pittsburgh


Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
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