Real Estate

Real estate firms are an important part of the Barnes Dennig client base. To serve the unique needs of these companies, our real estate client service team is comprised of a cross-functional team of experts. This team includes highly trained CPAs, an attorney, specialists with significant IRS experience, and tax authorities with advanced degrees and certifications.

A representative listing of the real estate tax areas we can provide assistance with include:

• Acquisition issues, including the type of entity to hold the real estate, determining and allocating tax basis
• Tax rules governing subdividing real estate and the maximization of deductions for development costs
• Tax limitations on real estate losses
• How to avoid paying taxes using tax free exchanges of real estate, or when confronted with involuntary conversions
• Tax strategies and accounting for lessees and lessors
• Cost segregation studies to find tax savings by increasing depreciation deductions on certain new commercial/industrial construction

HUD and IRC Compliance

In the ever changing, government regulated environment of the U.S. Department of Housing & Urban Development (HUD), it is important to work with professionals who are knowledgeable in this area. The Barnes Dennig real estate services team is not only knowledgeable in this complex area but is also very active in organizations that promote the development and management of government assisted multi-family housing programs. We are members of the Affordable Housing Association of CPAs. 

We also work with many real estate entities that are involved with the IRC Section 42 Housing Tax Credit program.  We perform cost-certifications required by the Ohio Housing Finance Agency and annual audits that are required by various LIHTC syndicators and investor-limited partners that provide funding for the development of these real estate programs.

Our expertise ranges from assisting developers in the planning stages of a project, through helping management forecast project operations and syndicating and selling the credits. Though our PKF Network, we can help you tackle just about any financial or tax challenge that may arise.