Practice Areas
Magette Law TET, PLC focuses on a defined set of practice areas in which tax structure matters most. Kurt works with clients directly and alongside their existing advisors — CPAs, estate planning attorneys, real estate counsel, and others — to provide specialized tax guidance at every stage.
Business Entity Planning
Choosing the right entity at the outset is one of the most critical tax decisions a business owner or investor can make. Kurt advises on the organization, capitalization, and documentation of:
• Tax partnerships — general partnerships, limited partnerships, LLCs, and PLCs
• S corporations
• C corporations
This advice includes structuring for asset protection, equity arrangements among owners, and documentation of ownership interests from formation through operation
Tax Partnership Design
Partnership taxation is among the most complex — and flexible — areas of the Internal Revenue Code. Kurt's practice includes sophisticated partnership design work, including:
• Multi-layered waterfall distribution structures
• Carried interests (“profits interests” or “incentive interests”)
• Transactions and negotiations among business owners
• Gift and estate tax planning for transfers of tax partnership interests
Few attorneys bring Kurt's depth in Subchapter K. His work in this area spans four decades, including co-authoring a foundational Subchapter K article in the Georgetown Law Journal and a 2024 Tax Notes piece proposing simplification of partnership taxation.
Pass-Through Entity Tax (PTET)
State income tax planning for pass-through entities has become a significant opportunity — and a minefield — since the federal SALT deduction cap took effect. Kurt advises on PTET elections and their implications, with particular focus on Virginia's PTET regime and multi-tiered partnership structures.
Commercial Real Estate Transactions
Commercial real estate owners and investors face a distinct set of tax planning opportunities. Kurt's commercial real estate tax practice includes:
• Like-kind exchanges (Section 1031)
• Reinvestments related to involuntary conversions (e.g., government takings)
• Qualified opportunity zone structuring and investment — both Round One and Round Two
• Low-Income Housing Tax Credits (LIHTC)
• Federal and Virginia Historic Tax Credits
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M&A transactions raise tax questions that can define the deal. Kurt provides tax advice on business combinations, asset vs. stock acquisitions, and capitalization (debt & equity) transitions. When appropriate, Kurt works alongside transaction counsel to ensure the deal is structured efficiently from a federal and state tax standpoint.
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Transferring an interest in any Business Entity, (especially a tax partnership) — whether a family business, real estate venture, or investment fund — requires careful coordination between tax and estate planning counsel. Kurt provides the partnership tax analysis that underpins these transfers, working alongside estate planning attorneys who handle wills, trusts, and related documents.
Note: Magette Law TET, PLC does not draft wills, trusts, or related estate planning documents. Kurt collaborates with estate planning counsel on the tax partnership aspects of gratuitous transfers.
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Kurt advises on the formation and operation of charitable organizations under IRC Section 501(c)(3), including tax structuring related to contributions of business and real estate interests.
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Beyond the specialized areas above, Kurt assists with general business issues that intersect with tax — owner disputes, restructurings, and governance questions where tax considerations are central.