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Patenting Tax Strategies: Killin’ the Snake

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Patenting Tax Strategies: Killin’ the Snake PATENTING TAX STRATEGIES: KILLIN’ THE SNAKE PATRICK LEWIS O’DANIEL Fulbright & Jaworski L.L.P. 600 Congress Avenue, Suite 2400 Austin, TX 78701 & KEVIN THOMASON Thompson & Knight LLP 1700 Pacific Avenue, Suite 3300 Dallas, TX 75201 State Bar of Texas 25TH ANNUAL ADVANCED TAX LAW COURSE August 30 - 31, 2007 Houston CHAPTER 5 Patrick L. O’Daniel Fulbright & Jaworski L.L.P. 600 Congress, Suite 2400 Austin, Texas 78701 (512) 536-5264 Education The University of Texas School of Law J.D., with high honors, 1992 GPA: 4.07/4.3 The University of Texas at Austin – May 1989 Bachelor of Business Administration, Highest Honors Double Major in Accounting and Honors Business Activities Member, State Bar of Texas (1992 – Present) Member, State Bar of Texas, Tax Section, Chair, Committee on Government Submissions (COGS) (2005 – 2007) Treasurer, State Bar of Texas, Tax Section (2007 – Present) Member, Tax Section, American Bar Association (1993 – Present) Sub-Committee Chairman of Partnership Workouts Committee, American Bar Association (1998 – Present) President, Business, Corporate and Taxation Section of Travis County Bar Association (1997-1998) Treasurer, Texas Law Review (1992-1997) Articles Editor, Texas Law Review (1991 - 92) Editor, Harvard Journal of Law and Public Policy (1991-92) President, Federalist Society, University of Texas School of Law (1990-01) Omicron Delta Kappa – Leadership Fraternity President, Board Member, Catholic Charities of Central Texas (2000- Present) General Counsel, Board Member, Zachary Scott Theatre (2002-Present) Awards Marvin Key Collie Endowed Presidential Scholarship in Tax Law Carrington, Coleman Award for Academic Performance Jenkens & Gilchrist Tax Note Award Grand Chancellor Order of the Coif National Merit Scholarship Phi Kappa Phi, Golden Key Honor Societies Beta Gamma Sigma Business Honor Society Experience Fulbright & Jaworski L.L.P., Austin, Texas (Partner, 2007) Jenkens & Gilchrist, Austin, Texas tax associate, 1993-98; partner, 1999 – 2006 University of Texas School of Law, adjunct professor, Partnership Tax, (2000- Present) Hon. Clarence Thomas, Supreme Court of United States, law clerk (1998-99) Hon. William L. Garwood, United States Court of Appeals, Fifth Circuit, law clerk (1992-93) Miscellaneous Certified Public Accountant KEVIN THOMASON Partner, Thompson & Knight LLP 1700 Pacific Avenue, Suite 3300, Dallas, TX 75201 214.969.2561, Fax 214.999.9261 [email protected] PRACTICE Tax PRACTICE DESCRIPTION Kevin Thomason focuses his practice on the representation of clients in tax matters. He provides advice and counseling on partnership, corporate, and real estate tax issues, with an emphasis on tenant-in-common syndications, master limited partnerships, and like-kind exchanges. DISTINCTIONS/HONORS The Best Lawyers in America (Tax Law); 2006-2007 Texas Super Lawyers, Texas Monthly; 2003-2004, 2006 PUBLICATIONS/PRESENTATIONS "Planning Under The Often Overlooked At-Risk Rules, Including The Impact of the Hubert Case," 65th Institute on Federal Taxation, New York University, San Diego, California, November 2006 "What's Hot In Section 1031?," Dallas CPA Society, Dallas, Texas, November 2006 "Partnership Interests for Services: The Proposed Regulations," Dallas CPA Society, Dallas, Texas, November 2006 "Introduction To Petroleum and Mineral 1031 Exchanges: Oil & Gas TIC Boot Camp," Panelist, Panel Discussion, The Inaugural Texas IMN Tenant-In-Common Transactions Forum, Dallas, Texas, November 2006 "What's Hot in Section 1031?," 54th Annual Taxation Conference, University of Texas CLE, Houston, Texas, November 2006 "What Impact are TIC Buyers Having on the Metroplex Investment Market?," Moderator, Panel Discussion, 5th Annual RealShare Dallas, Dallas, Texas, October 2006 "Exchanges of Oil and Gas Properties," Moderator, Panel Discussion, Real Estate Committee Program, Fall Meeting of the Section of Taxation of the American Bar Association, October 2006 "Yield Enhancements in Today's TIC Market," Panelist, Panel Discussion, 2006 Tenants-In-Common Association Annual Conference, Las Vegas, Nevada, October 2006 Sponsors Forum, Panelist, Panel Discussion, 2006 Tenants-In-Common Association Annual Conference, Las Vegas, Nevada, October 2006 "So You Want To Invest In A TIC Deal?," reprinted in Texas Real Estate Business, October 2006 "Proposed Regulations - Sections 83 & 721: Partnership Interests for Services," with Ronald C. Kalteyer, State Bar of Texas Advanced Tax Law Course, Dallas, Texas, September 2006 "Damage Control: When a Deal Doesn't Go as Planned," Panelist, RealShare TIC, San Francisco, California, August 2006 "Black Box or Pandora's Box - What's in Third Party Due Diligence Reports, What Are Their Purposes, Who Are They For and Why?," Panelist, Panel Discussion, OMNI Brokerage Fall Conference, Midway, Utah, August 2006 "Who'd a Thunk it? Pitfalls for New Sponsors," TICTALK, April 2006 "So You Want To Be A Sponsor? ," Moderator, Panel Discussion, Tenant-In-Common Association 3rd Annual Symposium, San Diego, California, March 2006 "Partnership Equity for Services," Tarrant County Bar Association, Tax and Estate Planning Section, Fort Worth Texas, February 2006 "So Your Client Wants to Invest in a TIC Deal," Moderator, Panel Discussion, Real Estate Committee Program, Midyear Meeting of the Section of Taxation of the American Bar Association, San Diego, California, January 2006 "TICs and DSTs: The Cutting Edge of Like-Kind Exchanges," 52nd Annual Texas CPA Tax Institute, San Antonio and Dallas, Texas, November 2005 "TIC Update: The Future of TICs and How They're Helping Solve 1031 Exchange Investors' Replacement Property Challenges," Panel Discussion, RealShare Houston, Houston, Texas, November 2005 "What's Next for the TIC Business," Moderator, Panel Discussion, RealShare Dallas, Dallas, Texas, November 2005 "Alphabet Soup Entities," AICPA National Real Estate Conference, Las Vegas, Nevada, October 2005 "Like-Kind Exchanges: TICs and DSTs, an Update," with William P. Bowers, International Council of Shopping Centers, Phoenix, Arizona, October 2005 "Hot Tax Topics: Understanding the IRS and TICs," 2005 Tenants-In-Common Association Annual Conference, Las Vegas, Nevada, October 2005 "Overview and History of TICs, Basics of TICs," with Louis S. Weller, Anatomy of a TIC, Texas A&M University Real Estate Center, Dallas and Houston, Texas, September 2005 "Like-Kind Exchanges: TICs and DSTs, an Update," August 2005 "Partnership Tax Update," University of Texas CLE, Austin, Texas , July 2005 "Like-Kind Exchanges: Update, TICs and DSTs," State Bar of Texas Advanced Real Estate Law Course, San Antonio, Texas, July 2005 "Tenancy-in-Common Syndications: The Unanswered Questions," Moderator, Panel Discussion, 21st Annual Texas Federal Tax Institute, San Antonio, Texas, June 2005 "The American Jobs Creation Act of 2004 and Circular 230," Program Chair, State Bar of Texas, Dallas, Texas, April 2005 "The Evolution of TICs and Section 1031," Moderator, Panel Discussion, Real Estate Committee Program, Midyear Meeting of the Section of Taxation of the American Bar Association, San Diego, California, January 2005 "Tax Strategies Using Like-Kind Exchanges," Professional Education Systems Institute, Dallas and Houston, Texas, December 2004 "Goodwill Hunting: The Use of 'Personal Goodwill' and Other Planning Techniques in the Sale of Businesses," 2004 Texas Society of CPAs Tax Institute, Dallas and San Antonio, Texas, November 2004 "Hot Topics in Taxation - What a Shopping Center Lawyer Needs to Know About Tenancy-in-Common Exchanges," with William P. Bowers, 2004 ICSC U. S. Shopping Center Law Conference, Hollywood, Florida, October 2004 "The Next Big Thing...The Who, What, Where, Why & How of Tenant-in-Common Investing...and How It Could Impact the Investment Market," Moderator, Panel Discussion, RealShare Dallas, Dallas, Texas, October 2004 "The Life Cycle of a 1031/TIC Transaction," Panelist, Triple Net Properties, LLC, 1031 Symposium, Las Vegas, Nevada, September 2004 "Practical Planning for Tenancy in Common (TIC) Exchanges," with Anthony Thompson and Louis Rogers, Section of Taxation of the American Bar Association Teleconference, July 2004 "Mergers, Acquisitions, and Conversions with Partnerships and LLCs," Current Issues Affecting Partnerships, Limited Partnerships & LLCs, University of Texas CLE, Austin, Texas, July 2004 "Use 1031 Exchanges to Invest In TIC Properties," Commercial Mortgage Insight, May 2004 "Goodwill Hunting," Financial Planning, May 2004 "Current Developments," Moderator, Panel Discussion, Partnership Committee Program 2004 Meeting of the American Bar Association Tax Section, Washington, D.C., May 2004 "1031 Exchange Update: Legal Issues Dealing with 1031 Exchanges," IBA Real Estate Networking Conference, Harvey Hotel, Irving, Texas, February 6-7, 2004 "Partnership Options: The Regulations at Last," 62nd Institute on Federal Taxation, New York University, San Francisco, California, November 2003 "Partnerships/LLC's: Options," Philadelphia Tax Conference, Philadelphia, Pennsylvania, October 2003 "Tax Strategies Using Like-Kind Exchanges," with Bradley C. Borden, Professional Education Systems Institute, LLC, Dallas, Houston, and Austin, Texas, September 2003 "A Practical Guide for the Rest of us on the Tax Treatment of Options in Partnerships and LLCs," University of Texas CLE Law, Austin, Texas, July 2003 "Tax Issues, Including 1031s and Entity Choices," Advanced Real Estate Law Course, San Antonio, Texas, July 2003 "Partnership Options: The Proposed Regulations," Moderator,
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