Commercial Investment Real Estate September/October 2013 - Page 50

CCIM
CONNECTIONS
Talking Taxes
When Evan Liddiard dabbled in property management as a teenager, he never imagined that one
day he’d monitor federal tax policy for the world’s largest real estate organization. But as the National
Association of Realtors’ senior policy representative for federal taxation, Liddiard keeps close watch
on tax laws af ecting both residential and commercial real estate.
Tax policy remains a key issue to watch through year-end, given an uncertain economic climate and
continued congressional wrangling, Liddiard says. “While enactment of comprehensive tax reform in
2013 is improbable, the possibility it could occur signif es the biggest potential threat for commercial
real estate this year.”
U.S. House and Senate leaders continue to discuss a “blank slate” approach to tax reform, which
means every tax deduction, exemption, and credit is “o
“on the table,” he explains. In addition, the House
Ways and Means Committee’s draf s simplif cation bill includes an option that would
repeal
repe
re
peal the f exibility of partnership
partners tax rules — another factor that could have
long-standing implications f for the commercial real estate industry, he says.
lo
Liddiard’s 20-year role as tax policy adviser for Sen. Orrin G. Hatch,
R-Utah — who is curre
currently the longest-serving Republican on the
Senate Finance Comm
Committee — gave him an in-depth understanding
of tax policy as it relat
relates to real estate. “Senator Hatch was a leader
on a number of real e estate-related tax bills, including legislation to
modernize REIT pro
provisions, shorten depreciation periods, lower
the capital gains ta
tax rate, improve the low-income housing tax
credit, and ease the FIRPTA rules,” he explains.
Liddiard adds that
th CCIM members are in a unique position
to educate and inform
info their congressional leaders. “By providing
relevant information about real-life projects and the state of the real
estate industry back home,
ho
CCIMs can be a source of much-needed
insight to those who repre
represent them in Congress,” he says. “By building
relationships with and ed
educating members of Congress and key staf ers,
CCIMs can help to de
decrease the chance that Congress will enact far-
reaching chang
changes that could harm the industry.”
Evan Liddiard will discuss the potential
effects of tax policy changes at CCIM
Live! Oct. 25–26 in Denver. Learn more
at http://live2013.ccim.com/.
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Commercial Investment Real Estate