Significantly behind the originally published timeframe, the second round of proposed regulations related to the Qualified Opportunity Zone program is currently under review at the Office of Information and Regulatory Affairs. The following issues still need to be addressed: ...
Read MoreThe IRS Large Business and International (LB&I) Division is currently pursuing a “compliance campaign” against large land developers of residential communities for improper use of the more taxpayer-friendly completed contract method (CCM) of accounting. The IRS believes some...
Read MoreThe Financial Accounting Standards Board’s (FASB’s) new standard for accounting for leases is poised to take effect for public companies and certain other entities for periods beginning after December 15, 2018. Although early adoption is permitted, other organizations that follow U.S....
Read MoreAre you thinking about renovating or expanding your aging Michigan manufacturing facility? Are you considering building a new facility or going high tech? If so, obtaining a Michigan Industrial Facilities Exemption Certificate (IFEC) could save you a significant amount on property taxes. ...
Read MoreThe U.S. Department of Housing and Urban Development (HUD) sponsors a broad range of programs designed to revitalize urban neighborhoods, stimulate housing construction, encourage home ownership opportunities, and provide safe and affordable housing primarily for low-income families. HUD...
Read MoreClassifying and reporting income and losses related to a land rent, such as a flat-surface parking lot, can be more difficult than you might think. Many complexities of the tax law come into play and will depend on your specific situation, namely on if you operate the parking lot as a business or...
Read MoreWhen paying the property tax bill, it usually makes sense for the tenant to be responsible for appealing a property tax assessment. But that’s not always the best move. Leaving an appeal to your tenant could result in unintended legal and financial consequences. Pros and ConsWhen you...
Read MoreOn October 5, 2016, the IRS issued final, temporary and proposed regulations on partnership disguised sales and allocation of liabilities. Under these regulations (and consistent with the prior regulations), when a partner contributes property to a partnership and receives a distribution within...
Read MoreOver the years we have seen companies, many of whom operate in real estate, purchase debt in the secondary market often significantly below the principal amount owed. The goal is to collect the price paid for the debt as well as a substantial portion of its original principal amount...
Read MoreAppraisers are increasingly incorporating trend analysis when valuing real estate. Property owners, as well as potential buyers, need to understand the role trend analysis (also known as market analysis) can play when determining value. Trend AnalysisWhich amenities and characteristics...
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