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Timothy C. Potts

Timothy Potts focuses his practice on taxation, real estate, business, estate planning and financing. Prior to working as an attorney, Tim practiced as a CPA for regional, local and international accounting firms. Tim also worked many years for Trillium Corporation, a regional and international real estate and natural resource company as CFO, Transaction Officer and as General Counsel. He has experience in real estate development including a number of years as a principal with Pacific Crest Partners, LLC, a development company. Most recent to joining Carmichael Clark, P.S., Tim practiced in his own firm, PottsLaw.

Practicing law since: 1987. Public accounting since 1974.

With Carmichael Clark since: 2013

Education:

  • Willamette University College of Law, J.D., 1982, magna cum laude
  • University Of Houston Graduate School of Accounting and Taxation, M.S. in Accountancy, 1972 – 1973
  • Pacific Lutheran University, B.A. in Business Administration, 1970

 

Recognition, Publications, and Presentations –

Wrote and conducted numerous seminars and continuing education courses including: sources of capital and borrowing, US-Canada cross border transactions, shifting of income taxation between related parties, and partnership (LLC) taxation.

 

Representative Services:

  • Transactions: acquisitions and sales/trades of real properties and other assets ($1MM to $165MM) (legal issues, tax avoidance, best financing, financial effect) –real estate, businesses, asset portfolio’s.
  • Federal Tax Appeals: appellate level representation; IRS audits, penalty abatement
  • State Tax Appeals: real property taxes, B & O tax, sales tax, use tax. Includes Board of Tax Appeals cases.
  • Real Estate: Purchase and sale, development, title, leasing, most other real estate documents
  • Financings: Commercial banks, insurance companies, pension trusts, asset based loans, hybrid and mezzanine debt, equity financings and capital formations, preferred capital, public company formation and offering.
  • Estate Planning: Tax and dispository planning for medium to large estates combined with integrated income tax planning. Wills, trusts, survivorship techniques.
  • Dispute Resolution: avoiding court action as often as possible

 

Professional Memberships

  • Washington State Bar Association (taxation and real estate sections)
  • American Bar Association
  • Washington Association of CPA’s – (“retired” member)
  • Oregon Association of CPA’s (past member)

 

Bar Admissions

  •  Washington

 

Community Activities

  • Christ the King Community Church (Bellingham) – Past board member and treasurer; special projects
  • Currently Developing an Estate Planning Program for the Elderly
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