On June 5, Tonkon Torp hosted a social hour and program to highlight key implications of the 2017 federal tax overhaul for real estate investors.
David Petersen covered the key components of tax reform that apply to real estate investors, including rate reductions, the new Qualified Business Income (QBI) deduction for owners of pass-through entities, and changes to deduction and depreciation rules.
Michael Millender discussed new tax incentives available to real estate investors who acquire property in so-called Opportunity Zones, which are census tracts that meet certain income criteria. Oregon's Opportunity Zones include some of the most rapidly developing neighborhoods in Portland, which has created compelling opportunities for real estate investors.
David is the chair of Tonkon Torp's Real Estate & Land Use Practice Group. He helps landowners and developers navigate every aspect of the land development process.
Michael is Co-Chair of the firm's Business Department and is active in the areas of tax and employee benefits.