Quote from @Joshua Tucker: What specific tax benefits can high net worth individuals receive from building real estate on tribal land?

Somebody bought that house at Tax Sale.   

It seems a stretch to pay for the Rig with Section 179.I would have development equipment onboard and dedicate a portion of the space to developmentI could put the companies logo on the side as advertisementGiven this, what tax strategies are actually practical?

Anyone answering is not responding as a Tax accountant, Insurance expert or as a Financial advisor.  

I don't know the answers on taxes, but New Jersey is the densest state in America.

Understanding the IRS disaster relief provisions is crucial for residents seeking financial recovery.Under IRS guidelines, individuals and businesses in areas designated as federally declared disaster zones by FEMA may qualify for special tax relief.

California does not recognize Real Estate Professional (REP) status, but you can still claim it on your federal taxes if you qualify.

Assume for a moment its close to max tax bracket ie. nearly 49% (Federal + State), roughly $17K.

@Tyler Speelman, A 1031 exchange solves the tax issue. 

And must be pretty significant unreported income if it would have caused $45k in state tax liability.You advised your client to wait past the expiration of state statute.