Real estate team works to make a deal happen.

A friend. A trusted advisor. A sounding board. A source of solutions.

These are but a few of the accolades that members of the Real Estate Services Team at Anchin, Block & Anchin, LLP, have received recently from clients they have served.

They are accolades that are well deserved--the partners in charge of Anchin's real estate team bring their clients more than 100 years of collective experience.

The success of the Anchin Real Estate Services Team did not happen overnight. Nor did it happen by chance. Instead, it is the result of years of continuing education and dedicated service to those in the real estate profession.

The ABA Real Estate Services Team works with real estate professionals on a daily basis, helping them structure transactions in the most tax advantageous manner, increasing after-tax returns.

"We make the deal happen," said Marc Wieder, CPA, real estate services team leader. "Whether we are representing the buyer or the seller, we help structure a transaction that works for both parties."

For example, Wieder recently assisted a client in securing substantial capital gains versus ordinary income on a condominium development, overcoming tax issues on the sale of a hotel by an S-corporation that elected S status less than 10 years prior.

The list of services provided by members of the Real Estate Services Team includes "traditional" accounting and audit services as well as a number of specialized services, including acquisitions and due diligence, cost segregation services, estate planning, litigation support, transaction structuring, valuations and 1031 exchanges. The Firm also has assisted more than 100 clients, including many real estate developers, qualify for tax credits and incentives, saving these clients many millions of dollars.

Other partners of the Real Estate Services Team include:

* Robert S. Gilman, CPA, whose practice concentration includes due diligence, transaction structuring and mergers and acquisitions. Gilman was recently involved in the structuring of acquisitions in excess of $1 billion.

* Marc A. Newman, CPA, who has been involved with complex transactions and partnership transfers, dispositions, and development projects. Newman is regularly called upon by legal and real estate professionals for strategies concerning break-ups of partnerships in both amicable and litigation situations.

* Howard Gewirtz, CPA, a 30+ year veteran whose clients include residential and commercial owners, managers and developers. Gewirtz recently assisted clients in successfully completing more than thirty 1031 exchanges.

Two of the most common cost-saving strategies that real estate professionals sometimes overlook, according to Wieder, are the state's Empire Zone program and cost segregation services.

In 1986, New York created more than 70 Empire Zones throughout the state that offer special incentives to encourage economic and community development, business investment and job creation. Since then, state government has continued to create additional zones throughout the state. Businesses in these zones or those that relocate to the zones may qualify for significant tax credits.

The Real Estate Services Team is complimented in its efforts to bring clients into the Empire Zone program by a team of tax incentive professionals Anchin hired from within the ranks of government who are experts in assisting clients through the certification process.

"We are the go-to firm in the state when it comes to the Empire Zone Program," Newman said. "Our team of tax, accounting and economic development professionals work together to reap benefits that often exceed the businesses' bottom line for the year. We are told time after time that no other firm matches our tax and economic development knowledge."

Similarly, Wieder noted that real estate clients often overlook the tax savings that can be accomplished through a cost segregation study. Owners of commercial and residential real estate, as well as tenants who have made substantial improvements to their leased space, might realize significant up-front tax savings resulting from a cost segregation study.

This IRS benefit enacted in 1999 allows for accelerated tax deductions--a five, seven or 15-year period--on certain portions of the building and surrounding property.

The Real Estate Services Team has conducted hundreds of cost segregation services for clients over the years without a single challenge by the IRS.

"We are active tax planners on behalf of our clients 12 months of the year," according to Gilman.

"This constant attention to their business has not only resulted in tax savings, but has also created a growing client base in the real estate sector."

The goal of the group, says Gewirtz: "We position our clients to succeed in the up cycles and protect them through the down cycles."