Justin L. Sylvan, CPA
jsylvan@orba.com
P 312.670.7444 | F 312.670.8301
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Justin Sylvan is a member of ORBA’s Tax Department. Justin’s experience includes preparing individual, partnership and corporate federal and state tax returns and advising clients on tax planning for numerous professional corporations.
Services
Industries
Justin Sylvan is a member of ORBA’s Tax Department. Justin’s experience includes preparing individual, partnership and corporate federal and state tax returns and advising clients on tax planning for numerous professional corporations.
Justin always takes advantage of all the resources available to him to provide his clients with the most accurate and up-to-date tax information. He considers all possible solutions to the issue at hand, responds to inquiries in a timely manner and is always available to answer client questions.
Justin enjoys spending time on the water during Midwestern summers. He likes to hang out with friends and family at his family’s lake house, where the days are spent swimming, wakeboarding and boating. Justin also has many travels plans and hopes to visit China, Japan and parts of South America in the near future.
- Certified Public Accountant
- B.S., Accounting, Indiana University
Real Estate Activities Versus Investments: Why it Matters
The characterization of a real estate entity’s activities as a business or an investment makes a big difference to the bottom line when it comes to taxation. In Conner v. Commissioner, a developer whose plans were derailed by the Great Recession recently learned this lesson the hard way.
New Landscape for Real Estate Investment Trusts
The Protecting Americans from Tax Hikes (PATH) Act made substantial changes to certain areas of the Real Estate Investment Trust (REIT) rules. Many of the provisions provide REITs with additional flexibility regarding the nature of their assets and income, which make REITs an appealing investment vehicle for foreign taxpayers (see Sidebar). Prohibited Transaction Safe Harbors […]
Placed in Service: When Tax Breaks May Apply to Retail Properties
A big question we see in the tax realm is: “When can I start depreciating my building?” Conventional wisdom says to start depreciating your retail property once it is open for business. However, a recent court ruling sheds new light on the issue. In this article, we examine the meaning behind the term “placed in service” and analyze the tax court case Stine LLC v. U.S., No. 2:2013cv03224, Jan. 27, 2015 (W.D. La.). In the case, the IRS ruled that a taxpayer’s building could not be considered “placed in service,” as its retail properties were not yet in operation. However, the tax court disagreed with the IRS and had their own interpretation on what “placed in service” means. Read further as we examine this case in greater detail, as it provides additional guidance on when a real estate property can start being depreciated.
Real Estate Group Newsletter – Spring 2018
Is a General Partner Fund Right for Your Deal? Justin Sylvan, CPA The process to launch a private real estate fund involves navigating a variety of structural complexities and business challenges. As the real estate boom reaches new heights, real estate private equity sponsors are becoming increasingly constrained and looking for new ways to fund […]
Real Estate Group Newsletter – Spring 2017
ORBA’s Real Estate Group Newsletter is a quarterly publication focused on effective real estate practice management. The Spring 2017 issue includes two articles: “IRS Updates Tangible Property Regulations for Small Taxpayers for 2016 Tax Year” and “New Tax Law Offers PATH to Savings.”
Real Estate Group Newsletter — Winter 2016
ORBA’s Real Estate Group Newsletter is a quarterly publication focused on effective real estate practice management. The Winter 2016 issue includes two articles: “Triple Net Leases: Advantages and Disadvantages for Landlords” and “The IRS is Watching Real Estate Donated to Charity.”
CHICAGO – Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest accounting firms, is pleased to welcome Anna G. Williamson, CPA to its Audit Department and Justin L. Sylvan to its Tax Department. Anna G. Williamson, CPA has sixteen years of accounting and audit experience. She has performed a variety of audit, review […]