By MarksNelson on February 21, 2018President Trump signed the Tax Cuts and Job Act ("Act") in December 2017 implementing the largest revision to federal income tax laws in decades. Nearly every industry is feeling the impact. For real estate trusts and taxpayers involved in the real estate business, the changes are significant in six key areas.
By MarksNelson on February 6, 2018Construction companies are already feeling the impact from the new federal tax law.
By MarksNelson on January 30, 2018Historic rehabilitation projects can be complicated and the federal and state submissions requirements challenging. A key team member in this process is the contractor. Finding the right contractor who understands the program and appreciates the historic requirements can make the process much easier. Here are five things to consider when hiring a contractor for your next historic tax credit (HTC) project.
By MarksNelson on January 8, 2018The Financial Accounting Standards Board issued an update that will significantly change the way in which lessees and lessors account for leases. The change, which takes effect in 2020, will require businesses to recognize lease assets and liabilities on the balance sheet and to disclose key information about leasing arrangements.
By MarksNelson on January 4, 2018Many companies choose not to combine real estate and other assets into a single entity. Perhaps the business fears liability for injuries suffered on the property. Or legal liabilities encountered by the company could affect property ownership. But there are valid and potentially beneficial tax reasons for holding real estate in a separate entity as well.
By MarksNelson on October 13, 2017To meet the challenge of rising costs, some dealerships are opting for a creative alternative to traditional health insurance known as “captive insurance.” A captive insurance company is wholly owned and controlled by your dealership or by you, a family member or a trust.
By MarksNelson on October 6, 2017Two new trends are emerging in a program designed to breathe new life into severely distressed neighborhoods. New Market Tax Credits are now being used for manufacturing investments above all else.
By MarksNelson on August 2, 2017If your company owns real property, or you do so individually, you may not always be able to dispose of it as quickly as you’d like. One avenue for perhaps finding a buyer a little sooner is an installment sale.
By MarksNelson on June 7, 2017Is your Low Income Housing Tax Credit (LIHTC) project approaching year 15 of its compliance period? Most year 15 planning starts before the project is in service, during the structuring and drafting of project agreements. However, a lot can happen in 15 years and partnerships should assess exit strategies that are available for them now and throughout the life of the project.
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