Information for Your Business

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IRS Priorities for 2013 Relating to LIHTC

During 2013, the IRS will review various issues under Section 42 of the IRC, including the following:   Guidance relating to the application of the design and construction accessibility requirements under the Fair Housing Amendments Act of 1988. Issues relating…

Effect of Sequestration on Affordable Housing

As anyone who watches the news knows, if Congress does not act by March 1, 2013, sequestration will kick in. When people talk about sequestration, or “sequester cuts, they are referring to a series of draconian budget cuts, totaling $1.2…

Section 45L Energy Tax Credit

Section 45L Energy Tax Credit   When Congress passed the American Taxpayer Relief Act of 2012, it extended the Section 45L tax credit, which provides eligible contractors of homes -including apartments -, with a tax credit of $2,000 per energy…

Sign Posting Requirements

Every few years I like to remind clients of the various requirements relating to the sign posting requirements for companies in the property management business. Failure to post the signs can cost as much as $10,000 per violation, so it…

A. J. Johnson Consulting to Introduce Pre-MOR Review Service

A.  J. Johnson Consulting Services will begin offering a new service in January 2013. This service will be conducting pre-MOR reviews for properties with project-based Section 8 assistance. Those properties subject to HUD and Contract Administrator review will benefit from…

The Importance of Cost Segregation Studies

Cost segregation is the process of examining all the physical components of a property and classifying them based on their life expectancy for tax purposes. A major tax court case (AmeriSouth v. Commissioner (TC Memo 2012-67), March 2012) has resulted…

No More Paper Checks for Federal Benefits

Paper checks are being phased out for all federal benefit payments. Beginning May 1, 2011, anyone newly applying for Social Security, Veterans benefits or any other federal benefit, will need to choose an electronic payment method – paper checks will…

Use Facts to Fight NIMBYism

Developers of affordable housing often face an uphill battle when trying to convince local planning commissions, city councils and community residents that an affordable housing complex will actually be good for a community. A recent report from the National Association…

New Cell Phone Application Offers Translation Services

Codetalker (www.codetalkerinc.com) is a new cell phone application that connects users to a live interpreter for a three-way conversation. Interpreter services for more than 175 languages are available, and the service also offers 24-hour turnaround for translation of documents. This…

Red Flags Rule

The Federal Trade Commission (FTC) has issued a new rule that goes into effect on January 1, 2011, called the “Red Flags Rule.” This rule requires certain businesses to develop written plans to fight identify theft. The Red Flags Rule…
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