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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Partnership Mergers
When two or more partnerships combine, the transaction may be considered a termination of each of the partnerships, except to the extent that the partners of one partnership end up with more than 50% ownership of the capital and profits of the resulting partnership. If more than one partnership can meet the test because of […]
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Year-End Reminders for Fund Managers
As year-end approaches, fund managers should prepare for compliance season by working closely with their service providers to ensure delivery dates are met and potential hurdles are anticipated. We recommend that fund managers consider the following: Have open and honest conversations. Engage your fund administration, tax, and assurance teams to set expectations and establish […]
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Tax Basis Capital Account Reporting Now Required by California
Beginning with the 2023 tax year, and for every taxable year thereafter, the California Franchise Tax Board (FTB) will require taxpayers who file Form 565 or Form 568 to report its partners’ or members’ capital accounts on the Schedule K-1 using the tax basis method as determined under California law. The FTB instructs taxpayers to […]
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The Power of Municipal Bonds
Municipal bonds have been around since the early 19th century, when New York City issued municipal bond obligations to help fund the construction of a canal. Since then, municipal bonds have come a long way and are now considered a staple in many portfolios, especially for real estate owners, operators and syndicators that might be […]
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Federal Programs to Assist with Commercial to Residential Conversions
The White House recently released a handbook of available federal resources titled, “Commercial to Residential Conversions.” The guidebook summarizes over 20 available federal programs, loans, grants, guarantees, and tax incentives that are administered by six federal agencies, that can directly finance, or reduce the cost of financing, office-to-multifamily conversions. “The conversion of [commercial] properties to […]
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Digital Transformation Journey
The data and technology landscape in commercial real estate continues to shift dramatically. In recent years, more and more real estate companies have started their digital transformation journeys, reshaping the ways that they acquire, sell and manage properties. When you throw in the continuing talent shortage and widening skills gap, which according to BOMA (Building […]
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A Nice Surprise for California Taxpayers and Practitioners on October 16th
Today, the Internal Revenue Service (IRS) further postponed tax deadlines for most California taxpayers (55 of California’s 58 counties, all except Lassen, Modoc and Shasta counties, qualify) from October 16, 2023 to November 16, 2023. While the State of California generally conforms to disaster relief extensions announced by the IRS, final confirmation from the Franchise […]
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Nevada Property Owners, Don’t Roll the Dice with Property Tax Appeals!
Nevada appraises real property annually. Owners are informed of the assessed property values, as determined by the Assessor’s office,1 in writing on or before December 18th. As we have discussed previously on the blog, changes in assessment value are based on market conditions and recent transaction activity. The dramatic shift in interest rates and the […]
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What to Make of 2Q Commercial Real Estate Loan Data
There is almost $1.4 trillion of commercial mortgages set to mature in 2023 and 2024 and D.C. appears to finally be taking steps to address the concern for potential delinquencies (“Proposed House Bill Would Address Cancellation of Debt Income for Distressed Commercial Real Estate Owners“). S&P Global published commercial real estate loan data from the […]
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Proposed House Bill Would Address Cancellation of Debt Income for Distressed Commercial Real Estate Owners
Bipartisan legislation (H.R. 5580) was introduced in the House of Representatives earlier this month that would make it easier for commercial real estate borrowers to defer cancellation of debt income from loan modifications or debt workouts. According to Moody’s Analytics, almost $1.4 trillion of commercial mortgages are set to mature in 2023 and 2024. Yahoo! […]