Tax attorney in Virginia Beach, VA

Tax, SDIRAs & Cost Segregation
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Tax attorney in Virginia Beach, VA

Steven Emilio
New to Real Estate · Virginia Beach, VA · Member since 2018 · 5 posts · 3 votes

Does anyone know a good tax attorney in Virginia Beach, VA. I have a client that will be liquidating their portfolio and wants to roll it into something more passive. Hopefully be able to do a 1031!

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Eamonn McElroy
Accountant · Atlanta, GA · Member since 2015 · 1k+ posts · 1k+ votes
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@Steven Emilio

Generally you wouldn't retain a tax attorney unless you're going to tax court.

A tax CPA or EA would be more useful to handle tax prep and planning.

Add @Dave Foster to your short list of QI candidates to interview, he's in FL but can work remotely.

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  • Dave FosterBusiness Member
    Qualified Intermediary for 1031 Exchanges · St. Petersburg, FL · Member since 2013 · 9k+ posts · 9k+ votes
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    @Steven Emilio, You may want to broaden your search a little for two different professionals.  The QI for the 1031 has to be an unrelated 3rd party whose only role is the performance of the 1031 itself.  

    A Tax attorney to help them tune their portfolio and sale to maximize tax benefit in other ways is not a bad plan.  But they then cannot do your clients 1031s.

    So two pros might be better than one :). And as far as the QI for the 1031s location isn't going to matter.  1031 is a federal statute practiced the same in all states.  And it's not unusual al all for 1031s to start in one state and end in another (particularly if your client is wanting to go passive).

    The 1031 Investor5137 Reviews
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  • Sean RooksPro Member
    Rental Property Investor · High Point, NC · Member since 2017 · 272 posts · 304 votes
    5y

    I would recommend:

    Ute Heidenreich, Esq.

    Towne 1031 Exchange, LLC - A TowneBank Company.

    President

    109 E. Main Street, Suite 700

    Norfolk, VA 23510

    Phone: 757.673.1586

    Fax: 757.484.7274

    Cell: 757.692.1356

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  • Eamonn McElroy
    Accountant · Atlanta, GA · Member since 2015 · 1k+ posts · 1k+ votes
    5y

    @Steven Emilio

    Generally you wouldn't retain a tax attorney unless you're going to tax court.

    A tax CPA or EA would be more useful to handle tax prep and planning.

    Add @Dave Foster to your short list of QI candidates to interview, he's in FL but can work remotely.

    1Reply
  • Patti RobertsonBusiness Member
    Property Manager · Virginia Beach, VA · Member since 2016 · 2k+ posts · 2k+ votes
    5y

    @Steven Emilio My commercial banker just recommended Attorney and CPA David M. Bastiaans who is with Walcott Rivers and Gates. We like him so far. It is unusual to find one person with both areas of specialty.

    https://www.wolcottriversgates.com/

    757-472-2547
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  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    5y

    @Steven Emilio

    Tax Attorney's normally have a higher billing rate compared to CPA's. As a result, you normally go to Tax Attorney's for complex tax situations. Such situations are getting your opinion on a recently passed tax law, representing you in front of a tax court or analyzing complex tax situations(Transfer pricing, drafting complex partnership agreements with carry/waterfall calculations, etc)

    You likely want to connect with a CPA and a 1031 intermediary to help you with you needs.

    Best of luck!

    [email protected]917-280-8544
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  • Krissie Cole
    Real Estate Broker · Virginia Beach, VA · Member since 2014 · 127 posts · 31 votes
    5y

    Closing attorney knowledgeable in closing 1031 exchanges:  Charlie Pittman in VB.  Im currently doing one with him now.

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