Stephen Bertonaschi, senior managing director at FTI Consulting's real estate solutions practice
NEW YORK CITY—Stephen Bertonaschi, an FTI Consulting tax expert, highlights some rules that could save real estate businesses money under the Tax Cuts and Jobs Act. As a senior managing director in the firm's real estate practice, he specializes in advising clients on federal, state and local tax matters.
Bertonaschi says that traditionally the government gave tax breaks including for depreciation as a way to encourage real estate investments. The general idea was that people need to invest substantial money upfront for real estate, later selling it 15 to 20 years in the future. So, the government allowed depreciation to help people start to recover the costs of buying their property, according to Bertonaschi. He reviews the some of the depreciation tax breaks:
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
