Tax Partner, Tax Leader of Anchin’s Real Estate Group
Mark Schneider, CPA, is a tax partner at Anchin. He is the Tax Leader of the Firm’s Real Estate Group.
Mark has spent more than 20 years servicing corporations, partnerships, individuals, and other pass-through entities. His practice includes a deep focus on servicing clients in the real estate industry including owners, developers, real estate managers and other real estate firms. Mark’s real estate client base is diverse and includes multi-family residential properties, commercial office buildings, shopping centers and real estate brokers.
Mark has extensive knowledge of multi-state taxation and has clients with properties located throughout the United States. He also has tremendous experience in providing tax strategies in addition to consulting related to acquisitions, sales, reorganizations and structuring complex deals. His practice also includes helping clients secure financing, estate planning, budgeting, and developing cash flow strategies.
Mark is a member of the American Institute of Certified Public Accountants (AICPA), the New York State Society of Certified Public Accountants (NYSSCPA) and the National Realty Club.
- Tax Planning and Compliance
- Real Estate
- There’s a new sheriff in town: the not-so-new IRS Consolidated Partnership Audit Regime (“CPAR”)September 6, 2018
On January 01, 2018, the CPAR (promulgated under the Bipartisan Budget Act of 2015) went into effect. Two sets of related regulations were issued in August 2018. As a result, there is the potential for a federal entity level tax if an election out of the CPAR is not made with each year’s federal partnership tax return. Under the CPAR default regime, tax will be assessed on the partnership in the year that the partnership tax examination or audit becomes final - not the reviewed year (the year under audit). As such, the tax assessed may not be equitable due to partner ownership shifts in subsequent years. The goals of the new regime are two-fold: to increase the IRS collection efficiency and to reinvest resources into increasing the number of partnership audits. Since almost all partnerships and their partners will be effected, this alert summarizes some of the key issues that you will need to consider.
- Proposed “Pass Through” Deduction Regulations - What does It mean for My Business?August 14, 2018
The Pass Through deduction established as part of the Tax Cuts and Jobs Act (TCJA) allows sole proprietors and non-corporate owners of pass-through entities a maximum deduction up to 20% of their Qualified Business Income (QBI). The deduction is limited to the lesser of 20% of the QBI or the greater of 50% of the amount of wages paid to employees or 25% of wages paid to employees plus 2.5% of the unadjusted cost of qualified property. It may be further limited by taxable income at the taxpayer (individual) level.