Industry best practices
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Workforce Housing Tax Credit Introduced in Congress
Earlier this month, Senate Finance Committee Chairman Ron Wyden (D-OR), Senator Dan Sullivan (R-AL), and Representatives Jimmy Panetta (D-CA) and Mike Carey (R-OH) jointly introduced the Workforce Housing Tax Credit (WHTC) Act. The proposal aims to increase the supply of affordable housing for middle-income families, generally deemed as those who earn too much to qualify […]
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The Power of the Real Estate Professional
In general, rental activities are passive activities even if a taxpayer materially participates in them. But, if a taxpayer qualifies as a real estate professional, the rental real estate activities in which the taxpayer materially participates are not considered passive activities. To say it differently, a real estate professional who materially participates in a real […]
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Reporting Like-Kind Exchanges to California
The State of California generally conforms to Internal Revenue Code Section 1031, as revised by the Tax Cuts and Jobs Act of 2017.1 Like-kind exchanges are reported on California Form 3840 when there is an exchange of one or more California real properties for one or more real properties located outside of California; and if […]
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It’s Year-End…Let’s Find Some Deductions!
Fixed asset reviews and repair and maintenance studies can be effective tools in year-end tax planning. Prior to December 31, 2022, taxpayers were able to benefit from 100% bonus depreciation on certain assets for federal and (possibly) state income tax purposes. The amount of allowable bonus depreciation began to be reduced effective January 1, 2023. […]
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Year-End Reminders for Fund Managers
As year-end approaches, fund managers should prepare for compliance season by working closely with their service providers to ensure delivery dates are met and potential hurdles are anticipated. We recommend that fund managers consider the following: Have open and honest conversations. Engage your fund administration, tax, and assurance teams to set expectations and establish […]
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Planning for Deferred Tax Liabilities on Opportunity Zone Investments
Opportunity zone investors are schedule to recognize significant tax liabilities on deferred gains invested into qualified opportunity funds. Determining strategies to manage or minimize these taxes is a critical action in the OZ toolkit.
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The Power of Municipal Bonds
Municipal bonds have been around since the early 19th century, when New York City issued municipal bond obligations to help fund the construction of a canal. Since then, municipal bonds have come a long way and are now considered a staple in many portfolios, especially for real estate owners, operators and syndicators that might be […]
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Federal Programs to Assist with Commercial to Residential Conversions
The White House recently released a handbook of available federal resources titled, “Commercial to Residential Conversions.” The guidebook summarizes over 20 available federal programs, loans, grants, guarantees, and tax incentives that are administered by six federal agencies, that can directly finance, or reduce the cost of financing, office-to-multifamily conversions. “The conversion of [commercial] properties to […]
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How You Might Be Impacted By New SEC Rules
The Securities and Exchange Commission (SEC) recently adopted rules and amendments to enhance the regulation of private fund advisers. The reforms are designed to protect investors by increasing the transparency into the operations of their fund investors. The sweeping rule changes are over 600 pages long. Below are a couple of key changes fund advisors […]
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Digital Transformation Journey
The data and technology landscape in commercial real estate continues to shift dramatically. In recent years, more and more real estate companies have started their digital transformation journeys, reshaping the ways that they acquire, sell and manage properties. When you throw in the continuing talent shortage and widening skills gap, which according to BOMA (Building […]