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