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Minnesota's oldest surviving theater, the Fitzgerald in St. Paul, MN

Historic Tax Credits

Preserving historic buildings is our chance to preserve a piece of history in our communities.  Once they are gone, they can never be replaced. Federal and state historic tax credits were created to protect and preserve these historic buildings. Let our Real Estate Solutions Team assist you in navigating the complex structures required to utilize these credits.

Our success in historic rehabilitation tax credit projects is based on our ability to participate with your development team, including attorneys, property managers, investors, asset managers, consultants, lenders, underwriters and contractors.

Why Choose Mahoney?

Partnering with us ensures you have accurate information to support your tax credit incentives. Below are a few of the ways we provide support to help you take advantage of state and federal historic tax credits:

  1. Analysis of Qualified Rehabilitation Expenditures (QREs): We meticulously examine your development expenditures to ensure they meet the necessary criteria for tax credit qualification.
  2. Deal Structuring: Our experts help you with pricing, pay-ins, Internal Rate of Return (IRR), developer fees, and other critical aspects of your project’s financial structure.
  3. Analysis of Partners’ Capital Accounts:  We navigate the complexities of Section 704(b) of the Internal Revenue Code to optimize your capital accounts.
  4. Preparation of Financial Forecasts and Projections: Our team assists you in creating accurate financial forecasts and projections to support your historic property development.
  5. Tax Research: We provide in-depth tax research to ensure you’re fully informed about the tax credit process and opportunities.
  6. Cost certifications (Federal and State): We help you prepare the necessary cost certifications to secure both federal and state historic tax credits.
  7. IRS Audit Assistance: In case of an audit, we provide the expertise and support required to navigate IRS procedures and requirements.
  8. Annual Project Audits: We assist you in fulfilling the annual project audit obligations as required by investors.
  9. Partnership LLC Tax Returns: Our team takes care of the LLC tax returns, ensuring all tax-related aspects are managed effectively.
  10. Analysis of 30% Business Interest Limitation: We help you analyze and optimize your business interest limitation to maximize your benefits.
Historic Theatre

Discover how our expertise in historic rehabilitation tax credits can revitalize historic theaters and similar properties.

Learn more about how we support real estate developers.

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