Businesses have reason to celebrate: 100% bonus depreciation is back! With the passage of the One Big Beautiful Bill Act (OBBBA). Section 70301 reinstates 100% bonus depreciation for property acquired and placed into service on or after January 19, 2025. […]
Real Estate
What is a Self-Rental? Many taxpayers who own an operating business also own accompanying real estate inside a separate entity. The operating business then leases the real estate from the entity that owns it. This is known as a “self-rental” […]
In my previous articles it was noted that a real estate project will typically go through three stages: The Preacquisition Stage The Acquisition Stage The Development Stage Part I of Real Estate Acquisition and Development examined the first stage, before […]
In a previous article it was noted that a real estate project will typically go through three stages: The Preacquisition Stage The Acquisition Stage The Development Stage Part I of Real Estate Acquisition and Development discussed the first stage, before […]
What is the 50% Test? The 50% Test is required for every project that receives 4% credits by financing acquisition and construction costs with volume cap tax-exempt bonds. The test is to verify that 50% or more of the tax-exempt […]
In response to the continuing presence of the COVID-19 pandemic, the IRS has again issued a notice that extends certain deadlines for low-income housing projects. Notice 2022-5 extended relief for the following deadlines and operational waivers: Deadline Relief • 10-percent […]
History The Minnesota Historic Structure Rehabilitation Tax Credit (MN HTC) was enacted in 2010. To qualify a historic building rehabilitation project for the MN HTC, a MN Part A application must be submitted to the Minnesota State Historic Preservation Office […]
How do you receive an allocation of 4% LIHTC? 4% Low Income Housing Tax Credits (4% Credits) are utilized to finance new construction and/or acquisition & rehabilitation of affordable housing projects. To receive an allocation of 4% Credits a developer […]
Passive Activity Rule Limitations The Low-Income Housing Tax Credit is generated from a passive rental real estate activity. Accordingly, individual taxpayers may be limited or prevented from claiming Low Income Housing Tax Credits under the passive activity rules unless one […]
Passive Activity Rule Limitations The Historic Rehabilitation Tax Credit (HTC) is most often generated from a passive rental real estate activity. Accordingly, individual taxpayers may be limited or prevented from claiming HTC under the passive activity rules unless one of […]
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