In this episode of the Tax Credit Tuesday “So You Want to be a LIHTC Developer” series, Mike Novogradac, and guests Novogradac partner Susan Wilson, CPA, and Novogradac principal Robert D. Bennett, CPA,CGMA, delve into the critical benefits of low-income housing tax credit (LIHTC) audits. This episode focuses on six ways audits provide value to LIHTC owners and developers, including eligible basis calculation, tenant compliance, first-year credit optimization, cash waterfall distributions and analytical review procedures. Learn how specialized expertise can enhance decision-making, sustain property feasibility and save time and money for developers and stakeholders in the affordable housing sector. https://novogradac.com/uxm
About us
Novogradac is among the nation’s top 40 certified public accounting and consulting firms with more than 25 offices nationwide. The firm is a nationally recognized leader in real estate and community development, and is one of the fastest growing accounting firms in the nation. Our clients represent a range of industries with a major emphasis in the real estate sector. We provide publicly and privately held national enterprises with a full spectrum of audit, tax, valuation, expert witness and litigation support, property compliance and general consulting services, and we work extensively in the affordable housing, community development, historic preservation, opportunity zones and renewable energy fields. Novogradac has earned the Great Place to Work certification and is recognized on two MOVE Project lists: Best Firms for Equity Leadership and Best CPA Firms for Women. Novogradac is also a two-time recipient of the Handshake Early Talent Award. Novogradac offers opportunities to explore a variety of areas within the accounting, valuation and consulting fields while developing expertise in the fast-growing real estate industry. To see current job openings, visit our career page here: https://www.novoco.com/careers. We provide first-class service to our clients while supporting the work-life balance needs of our staff. Many Novogradac professionals thrive with flexible schedules and hybrid or remote work arrangements. Novogradac sponsors national affordable housing, renewable energy and community development conferences with hundreds of the industry's leading experts and participants. Because of their industry expertise, our partners are frequently invited to speak at seminars and conferences throughout the country. To see upcoming conferences, visit: https://www.novoco.com/events.
- Website
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http://www.novoco.com
External link for Novogradac & Company LLP
- Industry
- Accounting
- Company size
- 501-1,000 employees
- Headquarters
- San Francisco, California
- Type
- Partnership
- Founded
- 1989
- Specialties
- Accounting, Audit, Tax, and Consulting
Locations
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Primary
1160 Battery Street
East Building
San Francisco, California 94111, US
Employees at Novogradac & Company LLP
Updates
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Honorable Mentions Spotlight: Honorable mentions of the #NovocoJTCAwards Community Development QLICIs of the Year are Fly Guys (Small Business), Lotus Village II LLC (Metro), Neighborhood Health (Operating Business), Imperial Valley PACE & Healthcare Inc. (Real Estate) and Circle Seafoods Inc. (Non-Metro). Learn more about the honorees here: https://novogradac.com/ak8.
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Year 15 marks the conclusion of the initial compliance period for a low-income housing tax credit (LIHTC) property, a milestone that brings tax complexities for the investor and the developer. In the latest installment of Novogradac’s Tax Credit Tuesday podcast series, “So You Want to Be a LIHTC Developer,” Michael Novogradac, CPA, and Kevin Wilson, CPA, discuss accounting issues around Year 15. First, they discuss the ways investors and developers report LIHTC transactions on their generally accepted accounting principles (GAAP) statements, discussing the differences between approaches such as the equity method, proportional amortization and consolidations. They also discuss issues facing investors and developers such as impairment, exit taxes and resyndications. https://novogradac.com/59s
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🏆 Winner Spotlight: The winner of the #NovocoJTCAwards Community Development QLICIs of the Year in the Operating Business category is City Fresh Foods with community development entities: HEDC New Markets Inc. and The Community Builders Inc. Learn more about the winners here: https://novogradac.com/ak8.
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Year 15 is a crucial period in the life cycle of a property financed by low-income housing tax credit (LIHTC) equity, one filled with significant decisions by the property owner and their investor partner. In this week’s episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Nicolo Pinoli, CPA, discuss some crucial issues, including the right of first refusal (and related tax issues), the qualified contract process and resyndication. In the discussion, they examine some of the assertions and some potential challenges to different approaches, including what could motivate developers to pursue different outcomes. https://novogradac.com/s6y
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📅 Mark your calendar now and plan to join us for the Novogradac 2024 Housing Tax Credit and Bonds Conference Sept. 26-27 in New Orleans. #NovocoLIHTC https://novogradac.com/76u
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🏆 Winner Spotlight: The winner of the #NovocoJTCAwards Community Development QLICIs of the Year in the Small Business category is NMTC Loan Fund I with community development entities: Lendistry and USBCDE LLC. Learn more about the winners here: https://novogradac.com/ak8.
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"We are seeing a record number of people spending more for rent than they can really afford,” said Chris Herbert, managing director of Harvard's Joint Center for Housing Studies. Learn more in this Notes from Novogradac blog novogradac.com/rbh
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🏆 Winner Spotlight: The winner of the #NovocoJTCAwards Community Development QLICIs of the Year in the Real Estate category is Whitman-Walker Max Robinson Center at St. Elizabeths with community development entities: Chase New Markets Corporation, Capital Impact Partners, DC Housing Enterprises, Industrial Bank, Jubilee Manna Sub-CDE IV LLC. Learn more about the winners here: https://novogradac.com/ak8.
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The State of the Nation's Housing 2024 Report found that homeownership is slipping out of reach for millions and that renters are shouldering unbearable costs. Learn more in this Notes from Novogradac blog novogradac.com/rbh
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