Three large pieces of legislation have been passed in the last 15 months with a collective goal of revitalizing and revamping domestic infrastructure, advanced manufacturing, and clean energy. There are many various impacts to the construction and real estate industry.
The Inflation Reduction Act retroactively reinstated 45L for 2022 and extended the credit through 2032. For the 2022 tax year, projects follow the same eligibility rules. Beginning in January 2023, more stringent energy efficiency requirements will be in place.
Construction firm owners and project managers need better solutions to keep pace with a shifting, uncertain market. Automated, AI-powered software tools are powering future-forward construction accounting practices.
2022 proposed changes to the Davis-Bacon Act could have complex implications for federal construction contractors, who are already dealing with prevailing wage requirements from recent legislation.
Construction contractors and other taxpayers can maximize year-end tax planning with the 100% meals deduction, which will be reduced to 50% on January 1, 2023.
Rising interest rates and inflation are impacting the residential housing market, but to what degree? The market is volatile and uncertain in every sector from existing and new homes and home improvement to multi-family construction.
The U.S. faces an affordable housing crisis in both residential and multi-family real estate. What led to this point and how are different solutions tackling the issue?
Opportunity Zones could be getting an extension with several additional changes. Real estate investors, even those who perhaps didn’t qualify before, will want to take a second look at the second Act for Opportunity Zones.
Amid rising interest rates, the Section 163(j) business interest expense deduction has a more limited impact for real estate companies and other capital-intensive businesses starting in 2022. There are other financing strategies to mitigate the impact of the lower deduction.
Real estate partnerships looking for a way to minimize the tax impact of canceled debt may be able to use qualified real property business indebtedness (QRPBI) to exclude forgiven debt from taxable income.
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