Aprio’s State and Local Tax (SALT) Real Estate team delivers tailored tax strategies that help real estate clients navigate the complex tax landscape of real estate investment, development, and ownership.

Aprio’s SALT Real Estate team provides specialized support for multistate income tax compliance, including navigating complex multistate regulations to improve tax positions and drive operational efficiency.

We manage multistate income tax filings and proactively identify tax-saving opportunities, providing professional analysis of nexus, apportionment, bonus depreciation, guidance on formation, restructuring, and like-kind exchanges, including Delaware Statutory Trusts (DSTs), and support for acquisitions, dispositions, and capital gains planning, including estate planning strategies.

Our team can help maximize deductions with strategic asset classification. The IRS asset capitalization rules are tricky, and practitioners often miss a significant tax savings opportunity. We will help you take full advantage of IRS tangible property regulations by:

• Distinguishing repairs vs. capital improvements – Immediate expensing where possible.
• Reviewing fixed asset purchases – Reclassifying costs as repairs to accelerate deductions.
• Applying the de minimis safe harbor election – Simplifying accounting and expensing low-cost items.
• Utilizing partial asset dispositions – Writing off replaced property to reduce tax liability.

Our goal: Maximize your deductions, simplify compliance, and reduce your tax burden.

If capitalization is required, Aprio maximizes your depreciation deductions through specialist-led cost segregation studies that accelerate depreciation and boost cash flow. We can capture additional savings through §179D energy efficiency deductions for qualifying building improvements. Our team of specialized project engineers evaluates your assets from every angle to make sure you’re capturing every available depreciation benefit.

Non-U.S. investors are typically attracted to the U.S. real estate market for several reasons, including stability, investment returns, diversification, ease of ownership, and tax benefits.

However, bringing in non-U.S. equity comes with significant legal, tax, and administrative complexities, including:

• Structuring considerations - Depending on a multitude of different factors, non-U.S. investment in U.S. real estate may be most efficient through direct investment, an LLC, a C-corporation, or an REIT.
• Tax burden to non-U.S. investors - Is the income received by non-U.S. investors effectively connected with a U.S. trade or business? Is the income subject to FIRPTA? Are there statutes or applicable treaties that could reduce the tax burden? Can structuring be done to reduce any estate tax?
• Administrative costs - Additional reporting required for non-U.S. investors, including the W-8 series of forms, Form 1042 & Form 1042-S, Form 8804 & Form 8805, Schedules K-1, and Form 8288

With thoughtful structuring of your U.S. structure, non-U.S. investors can become a valuable and efficient source of capital.

Aprio works with families to create personalized financial plans that bridge real estate success with long-term wealth goals. Our real estate tax professionals help you preserve more of what you earn through strategic tax planning so that you can reinvest in your business and future.

Our wealth advisors support you in balancing liquidity needs with portfolio diversification, while providing insights to help you act on market shifts with confidence.

Planning for the next generation, Aprio helps you explore estate and gift strategies—from direct gifting to trusts and family partnerships—designed to fit your goals.

If charitable giving is part of your legacy, we can guide you in using tools like donor-advised funds, private foundations, and philanthropic trusts to maximize tax benefits and strengthen your family’s impact.