Should you make the real property trade or business (RPTOB) election on your 2019 tax return? Are your tax exempt bond financed deals meeting the 50% test for the year? What factors evolving now could affect your tax credit equity adjusters later? Beth Mullen lays out these and other matters for property owners to consider as 2019 comes to a close.
Also, if you missed our National Tax Service’s Dec. 5 webinar “Year-End Tax Planning Considerations for Businesses and Individuals,” a recording is now available. The discussion covered considerations from the perspectives of partnerships, trusts and estates, and individuals.
Leaders from CohnReznick’s Tax Credit Investment Services (TCIS) group recently rolled out their latest reporting on more than 20,000 low-income housing tax credit (LIHTC) properties nationwide. They also launched the Affordable Housing Portfolio Performance Indicator (PPI), an online interface that allows users to interact with this data. Both can help investors and developers leverage the nation’s most comprehensive reporting of its kind on numerous data points for performance and expenses. Explore the report and PPI now, or check out these recent discussions of them:
- The TCIS team’s Dec. 12 webinar featured the latest analysis and reporting, including new data integrated into PPI as well as industry trends. If you missed it, sign up here to access the on-demand webinar.
- A recent article from Affordable Housing Finance hits notable highlights from the report and features comments from Cindy Fang, CohnReznick partner and TCIS leader.
- TCIS’s November Housing Tax Credit Monitor reports on the latest tax credit pricing data, funds, and analysis, and discusses the practice of “twinning” 9% and 4% credits.
For those working or interested in not-for-profits, CohnReznick has published the 2019 Not-for-Profit and Education Industry Perspectives Report. The report reveals some of not-for-profit executives’ top concerns and opportunities for the future, based on confidential interviews, and also provides CohnReznick perspectives on how not-for-profits can seize opportunities and minimize risk to continue to thrive as the industry evolves. Topics include:
- The current state of philanthropy and thoughts on financial stability
- Crowd-sourced fundraising and shifting donation models
- Optimizing systems and strengthening cyberdefense
- Attracting and retaining top talent
AROUND THE COMMUNITY
Join the conversation. Attend one of CohnReznick’s Affordable Housing & Community Development Forums, being held in multiple locations throughout December and January.
This investor has raised $165 million to house black and Hispanics in opportunity zones (BlackEnterprise.com)
Affordable housing for seniors and formerly homeless rising in Queens (Real Estate Weekly)
Investors assess LIHTC market heading into 2020 (Affordable Housing Finance)
After 40 years of opposition, affordable housing project to break ground in Huntington (New York) (WSHU-NPR)
How a “teardown tax” could help fund affordable housing in Montgomery County (Maryland) (WJLA-ABC)
HUD issues Request for Information on eliminating regulatory barriers to affordable housing (National Housing & Rehabilitation Association)
Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.
InsightAffordable Housing News & Views - February 2020Beth MullenCatch up on the latest affordable housing insights, events, headlines, and resources in our February 2020 Affordable Housing News & Views newsletter.
InsightCapitol Connection: The forgotten aging rental housing stock in AmericaBob MossCohnReznick’s Bob Moss discusses the need to find creative solutions for addressing very old, substandard public housing in cities and in rural America.
InsightRecognizing revenue under Topic 606: For syndicators and developers in the affordable housing industryGordon ChattertonWith the effective date of Financial Accounting Standards Board (FASB) Topic 606, Revenue from Contracts with Customers, real estate industry-specific guidance previously applied is now superseded. Within the affordable housing industry, application of the new standard particularly impacts syndicators and developer entities.
InsightAffordable Housing News & Views - January 2020Beth MullenThe latest industry insights, news, and events
Insight2019 year-end tax planning considerations for developersLast year at this time we were all scrambling to fully understand the impact of the Tax Cuts and Jobs Act on Low Income Housing Tax Credit (LIHTC) deals. The most important decision to be made with respect to the 2018 tax return was to make the real property trade or business (RPTOB) election or not.