By MarksNelson on March 22, 2018If you are in the process of restoring an older building, it may be worth your while to find out whether the building can be certified as a historic structure. As long as the rehabilitation of the building meets certain qualifications, you may be able to receive a federal tax credit equivalent to 20% of your renovation costs and a state tax credit equal to 25% of your renovation costs.
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 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 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 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.
By MarksNelson on April 3, 2017Capitalization rates are a critical component when real estate investors are comparing different investment opportunities. Unfortunately, cap rates are often misunderstood and improperly derived, which can affect the accuracy of a property valuation.
By MarksNelson on April 2, 2017Monthly rental payments made by a lessee obviously constitute taxable rental income. But rental income can encompass other types of payments, too. If lessors aren’t careful, they could end up on the hook for more tax liability than expected, as well as significant penalties.
By MarksNelson on January 30, 2017Industrial, office, multifamily—nearly all sectors of the Kansas City commercial real estate market continued to soar last year. Will the industry remain strong in 2017? How will President Donald Trump and newly elected federal and state legislators affect taxes and incentives for developers and investors?
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