Lyle Prempas is a CPA and a senior manager at Baker Tilly
in the Construction and Real Estate tax group. Lyle has more than 15 years of
experience in the Chicagoland market and assists clients with tax compliance
including capital account maintenance, debt allocations, income/loss allocations
and liquidity events. In addition he consults with business owners regarding
organizational structuring to achieve tax efficientcy, reviews operating
agreements to ensure desired goals are met, and works with management advising
on day-to-day operations to enhance cash flow management, maintain internal
controls and streamline accounting functions.
Alex Brosseau is a Senior Manager in the Tax Policy Group
of Deloitte Tax LLP’s Washington National Tax office. In that capacity, he
monitors tax policy developments in Congress and the White House on behalf of
the firm and its clients. From 2012 to 2015, Alex served as Senior Analyst for
Tax Policy on the U.S. Senate Budget Committee where he was the primary tax
adviser two of the committee’s previous chairpersons, Senator Patty Murray of
Washington and Senate Finance Committee member Kent Conrad of North Dakota.
While on the Budget Committee, Alex led tax and revenue policy for the
committee’s majority during many negotiations including those related to tax
extenders, tax reform, and the Senate-passed fiscal year 2014 budget resolution.
He also played a significant role in the policy discussions that led to
enactment of the Bipartisan Budget Act of 2013. Prior to his time on Capitol
Hill, Alex worked in client service at Deloitte Tax LLP, focusing primarily on
clients in the financial services and real estate industries. Alex is a Certified Public Accountant (CPA). He
received his Master of Science in taxation from American University (Washington, DC)
and his Bachelor of Arts in accounting and economics from the University of
Saint Thomas (Saint Paul, Minnesota).
As
the President and Founder of Bracket Partners, LLC (www.bracketpartners.com), my
mission is working with clients to maximize tax incentives related to real
estate, renewable energy, and other fixed assets. In an advisory role, I help
clients identify, implement, and monetize federal, state, and local incentives
when clients are buying, building, expanding, renovating, relocating, and/or
selling property. I focus on tax credit and incentive areas such as historic
redevelopment, renewable energy, affordable housing, new markets, and
opportunity zones. I also work with clients to maximize cost recovery through
tax deferral and savings strategies such as cost segregation, repairs and
maintenance (tangible property) tax regulations, and energy incentives including
179D & 45L.
I
work directly with property owners, developers, tenants, business owners,
investors, not for profits, and government entities. I also provide my services
indirectly through CPA firms as a trusted partner in various
arrangements.
My
diverse work history includes over 20 years working at a variety of professional
service firms, small to large, private and public. I also spent several years as
a real estate development manager where I focused on senior and multifamily
housing, retail, hotels and indoor waterparks.
I
am an active public speaker on topics related to real estate including tax
incentive and cost recovery issues as well as energy and sustainability
opportunities. I am an active Certified Member and served as President of the
ASCSP ("American Society of Cost Segregation Professionals"). I am a member of
Landmarks Illinois and serve on the Real Estate and Building Industries Council.
I am a Board of Advisor member for the James A. Graaskamp Center for Real Estate
affiliated with the University of Wisconsin – Madison. I am also a licensed CPA
in Illinois.
Ed Hannon is a
member of the firm’s Business Law Practice Group. He regularly works with
institutional investors, high-net-worth individuals, and real estate companies
in developing and implementing tax-oriented structures in real estate
transactions. Mr. Hannon also provides tax and structural advice in connection
with various transactions involving the acquisition and disposition of U.S-
based businesses
.
Mr. Hannon has represented real estate owners and
investors in real estate projects located throughout the U.S. in addressing
various tax, governance, and entity formation issues. Mr. Hannon has assisted
real estate owners in structuring and implementing various structures designed
to facilitate tax-free like-kind exchanges under Section 1031 of the Internal
Revenue Code, including the Delaware statutory trust structure and various
post-exchange refinancing techniques. Mr. Hannon also has significant experience
in adopting various structures for repositioning and recapitalizing property
owned under the tenant in common structure in a tax-free manner.
As a member of the Quarles & Brady real estate investment trusts
(REITs) team, he provides counsel on various tax and structural issues related
to tax-free and partially tax-free “sales” of real estate to a REIT, and he
regularly works with members of the Quarles & Brady real estate practice
in addressing various tax issues that typically arise in the leasing,
refinancing, and acquisition of real estate by a REIT. He has also worked with a
number of operating businesses that hold significant real estate assets in
examining whether a REIT spin-off transaction is appropriate for their business
operations.
Mr. Hannon has also represented a number of non-U.S. real estate
companies and investors in implementing various structures designed to minimize
U.S. tax costs in connection with the direct acquisition of real estate in the
U.S. and with the indirect acquisition of U.S. real estate through a real estate
partnership or joint venture. In representing non-U.S. parties who are acquiring
U.S. real estate, he has significant experience in coordinating the efforts of
U.S. legal counsel with the client’s U.S. and non-U.S. tax advisors in
implementing global tax-oriented strategies.
In connection with his work in providing tax and structural advice for
transactions involving the acquisition and disposition U.S.-based business
entities, Mr. Hannon has represented buyers and sellers in connection with the
use of various tax deferral techniques that involve limited liability companies
or other flow-through tax entities for the tax-free rollover of top management’s
equity investment in the acquired company. He has also worked with clients in
developing and implementing various tax-oriented structures for the
recapitalization of existing businesses owned by an S corporation.
Mr. Hannon has significant experience in tax-free mergers and acquisitions
and corporate spin-off transactions and is regularly involved in the drafting
and negotiation of various tax sharing agreements used in acquisitions of
U.S.-based businesses. He has represented companies based in the European Union
in connection with their business activities in the U.S. Recently, Mr. Hannon
has advised companies based in Germany, Sweden, Denmark, and Ireland in the
development and implementation of various structures for the sale of a U.S.
business and in connection with the expansion of their business platform in the
U.S.
Mr. Hannon has been recognized as a “Leading Lawyer” in the areas of
International Business and Trade Law, Real Estate Law, and Finance and Tax Law
in 2009, 2010, 2011, 2013, and 2014 and was recognized as part of the “Irish
Legal 100” in 2010, 2011, and 2012. Mr. Hannon is a member of the adjunct
faculty at the DePaul University Graduate School of Business where he teaches a
course on tax and structural planning for real estate transactions to graduate
students pursuing their MBS in real estate.