David manages a national practice in the area of like-kind exchanges of real estate. In his capacity as counsel to taxpayers and various exchange intermediaries, he structures and documents hundreds of like-kind exchange transactions for major oil and gas, telecommunications and transportation companies, as well as real estate investment trusts (REITs) and smaller real estate owners. His forms of exchange documents are widely used in the industry, and he has served as an expert witness in several lawsuits involving like-kind exchange issues.
David is a thought leader on these exchanges and other tax topics and has been quoted frequently on tax issues in the Wall Street Journal and other business publications. He has spoken at all 24 national conferences on like-kind exchanges sponsored by the Center for Professional Seminars and Wells Fargo Exchange Services, as well as various programs sponsored by the ABA Tax Section, the Pennsylvania Bar Institute (PBI), and the NYU and USC Institutes on Federal Taxation.
Qualified Opportunity Zones
When the 2017 Tax Cut and Jobs Act added new tax incentives for investments in qualified opportunity zone (QOZ) funds, David quickly carved a niche for himself in that topic. Since then, David has worked with numerous taxpayers seeking to defer and exclude otherwise taxable capital gains by investing in QOZ funds for projects in certain low-income census tracts. David has spoken at several ABA Tax Section panels on QOZs and was part of the ABA Tax Section task force that commented on the U.S. Treasury’s two sets of Proposed QOZ regulations.
Working with the firm’s insurance and annuities practice group, David has provided tax advice on all aspects of structured settlements for personal injury and other claims. He has spoken at a number of tax seminars on the tax consequences of litigation settlements and obtained for firm clients two of the most significant private letter rulings from the IRS on structured settlements.