More about Carey M. Heyman, CPA
- Carey M. Heyman, CPA
- Managing Principal of Industry - Real Estate
- CliftonLarsonAllen LLP
- Century City (Los Angeles)
Carey is the Managing Principal of the Real Estate Industry at CLA. He is a trusted advisor with close to 20 years of experience providing accounting, assurance, tax, and consulting services to real estate industry owners, operators, family offices, developers and syndicators. Carey has a strong track record of helping clients build and retain capital by leveraging tax- and cost-saving strategies and employing tax credits and incentives. He also consults with high net worth individuals, large family groups, and owners of closely-held businesses on all aspects of tax planning, estate planning, and retirement planning.
Blog Posts by Carey M. Heyman, CPA:
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IRS Continues to Struggle
The Treasury Inspector General for Tax Administration (TIGTA) recently issued an interim report on the IRS’s 2021 filing season, including information related to the impact of the COVID-19 pandemic. The primary objective was to evaluate whether the IRS processed individual paper and electronically filed tax returns during the 2021 filing season, including the processing of […]
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Would Opportunity Zones Still be a Worthwhile Investment Under the American Families Plan?
As discussed in last week’s blog post, President Biden’s American Families Plan proposes to increase the capital gains rate to the top tax rate for individuals for those making more than $1 million. While the proposed rate hike will have an obvious impact on the taxation of appreciated investments, Qualified Opportunity Zones (QOZs) should still […]
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President Biden’s Proposal Would Hit Real Estate and Private Equity Pretty Hard
President Biden introduced his American Families Plan on Wednesday, a proposal that would include $1 trillion in new spending and $800 billion in tax cuts and credits for middle- and lower-income families. The plan’s primary focus is on the expansion of access to child care and education. The proposal, however, would hit real estate and […]
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State-Specific Tax Updates
State and Local Tax (SALT) Workarounds Late in 2020, the IRS issued guidance that paved the way for states to enact state and local tax (SALT) workaround deductions for individual owners of passthrough entities. If you live somewhere with high state and local taxes (hello, California and New York), you are likely very familiar with […]
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Proposed Regulations for Certain Foreign Persons and Certain Foreign-Owned Partnerships Investing in Qualified Opportunity Funds
Generally speaking, a person or entity that makes a payment to a foreign person is required to withhold tax from the payment in order to ensure that the foreign person meets its U.S. income tax obligations associated with the foreign person’s realized U.S. source income. The withholding may be claimed as a credit or refunded […]
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CLA Talks: Capital Markets
Our Capital Markets group helps fund managers, developers, and investors capitalize on each phase of the real estate investment life cycle. In this CLA Talks video, Senior Analysts Chase Nystedt and Lucas Whelan, swung by to discuss: A brief history of the Capital Markets team. The process by which opportunities are vetted and capital is […]
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CLA Talks: Activity On The Hill
CLA Principal Melissa Labant recently joined me in this CLA Talks video to discuss Finance Committee Chairman Ron Wyden’s (D-Oregon) mark-to-market taxation proposal. If passed, the proposal would significantly affect the way that real estate holdings and tradeable securities are taxed. We covered the following: Goal of the mark-to-market taxation proposal and the concept of […]
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Revisiting the Tangible Property Regulations…Eight Years Later
The Tangible Property Regulations (TPR’s) were issued by the IRS in 2013 and apply to anyone who pays or incurs amounts to acquire, produce, or improve tangible real or personal property. Under Internal Revenue Code (IRC) Section 162, taxpayers are permitted to deduct amounts paid for repairs and maintenance to tangible real or personal property, […]
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There’s Always a Catch: Depreciation Recapture
When you dispose of depreciable or amortizable property that is used in a trade or business or is held for the production of rental income for over one year, the resulting gain is eligible for long-term capital gain treatment under Section 1231. But as always, there is a catch. And that catch is called depreciation […]
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Disaster Relief for Section 1031 Exchange Transactions
Due to the recent winter storms in Texas and subsequent disaster declaration by the Federal Emergency Management Agency (FEMA), the IRS granted relief to affected taxpayers. For Texas taxpayers and those in other states impacted by the winter storms that received similar FEMA disaster declarations, tax filing and payment deadlines were extended until June 15, […]