Real estate investment trusts (REITs) are required to meet unique and complex organizational, operational and investment diversification requirements with often inconsistent federal and state tax treatment. Due to the “niche” nature of the industry, competent professional advisors with REIT expertise are scarce, and developing internal resources is time-consuming and inefficient.
The firm’s experience with REITs stretches uninterrupted from 1993 to the present day and includes work on corporate formation, acquisition and disposition transactions as well as recurring monitoring and reporting unique to REITs.
The following are services we offer applicable to REITs.
Tax Services for REITs
- Computation and documentation of REIT organization, operation, and investment diversification requirements
- Calculation and reporting tax status of dividends and distributions
- Preparation of federal and state income and franchise tax returns
- Corporate reports of nondividend distributions and current and accumulated earnings and profits
Financial Reporting Services for REITs
- Assistance with accounting for income taxes and uncertain tax positions
- Design, implementation and operation of REIT compliance functions
- Reconciliation of GAAP to taxable earnings / FFO
Due Diligence and Other Acquisition Services for REITs
- Calculation of required pre-acquisition distributions of target earnings and profits
- Preparation of short-period tax returns for acquired entities