EXECUTIVE SUMMARY
* CPAs can use their expertise to structure partnerships between long-term community investors and developers who want to contribute to improving markets without displacing current residents and local businesses.
* For tax purposes, forming an LLC may be the best approach to a development partnership. The partners generally benefit from reporting their share of LLC taxable income on their individual tax returns, avoiding the double taxation of a C corporation.
* An increase in equity creates a win-win situation. In this example the property owner converts his equity to cash and retains title to his business property. The developer takes advantage ...