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 […]
Real Estate
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 […]
With the passage of the Tax Cuts and Jobs Act of 2017 came the Qualified Opportunity Zone tax incentive. The Qualified Opportunity Zone tax incentives are designed to encourage long-term investments and economic development while creating jobs in economically distressed […]
A key factor in the growth of the economy for many years has been real estate development. Simultaneously, the financial reporting and accounting for real estate acquisition and development continue to be very complex and require a good understanding of […]
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