Residential, Retail & Commercial Properties
Real Estate Tax Services

At Hedman Partners, we’ve built a robust reputation by serving prominent players in the real estate industry, from well-known real estate giants to private, closely held developers and investors. With a significant portion of our practice—about one-fourth—dedicated to real estate clients, we specialize in both residential and commercial development, alongside managing operations for residential, retail, and commercial properties. Our deep involvement in the industry allows us to provide precise and strategic tax services that align perfectly with the dynamic needs of real estate professionals and owners.

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Maximizing Returns through
Strategic Tax Planning

Our expert team supports real estate investors, landowners, developers, and large residential builders.

We focus on maximizing returns on investments by implementing effective tax planning strategies. These include conducting proper tax preparations and advising on 1031 exchanges—a critical tool for deferring tax on property exchanges. Additionally, we carry out Agreed-Upon Procedures engagements on joint venture accounting records, ensuring that our clients receive their rightful share of profit participation.

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a couple being shown a property

Comprehensive Tax Guidance through
All Phases of Real Estate

Our services extend through every phase of real estate activity, including acquisition, operation, and sale. We guide our clients through structuring real estate acquisitions to maximize income tax benefits and leverage estate planning opportunities. Each acquisition is evaluated to determine the feasibility of a cost segregation study, which can offer substantial tax savings by accelerating depreciation deductions.

In matters of joint ventures, we provide meticulous advice on deal structures. Collaborating with attorneys, we ensure that the income and distribution provisions in operating agreements are economically effective and comply with IRS regulations. Our expertise also includes facilitating like-kind exchanges, allowing clients to defer taxes effectively when selling real estate investments.

Expertise in Real Estate Compliance &
Complex Tax Issues

Real estate ownership often necessitates the formation of single-purpose entities, typically LLCs.

Hedman Partners LLP is adept at preparing the necessary tax returns for these entities and navigating the complex compliance challenges they present. Our firm is well-versed in Section 704(b) regulations concerning partnership allocations, making us a valuable resource for any real estate firm.

Our Real Estate Tax Goal

During economic downturns or real estate market slumps, we assist clients with planning for workouts of troubled real estate investments. These efforts include managing aspects such as the classification of worthless partnership interests, determining the character of losses (capital vs. ordinary), timing loss recognition, and calculating income from the cancellation of indebtedness. Our goal is to maximize tax benefits from losses while minimizing taxable income arising from debt cancellations.

 

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Specialized Real Estate Tax Services

By providing comprehensive and specialized tax services tailored to the nuances of the real estate market, Hedman Partners ensures that each client navigates the tax landscape efficiently and effectively, safeguarding their investments and optimizing their financial outcomes.

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