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Terry&Company, P.C. works with developers, investors and syndicators in the affordable housing market to take full advantage of low-income housing tax credits (LIHTC), Federal Housing Administration (FHA) insurance, rental programs, and tax-exempt bond financing opportunities.
Terry&Company, P.C. can assist developers to structure transactions and to coordinate with state housing agencies setting standards and developing practical processes that improve the likelihood of approval. Investors, syndicators and lenders depend on Terry&Company, P.C. to perform due diligence services such as cost certifications and 10% carryover calculation. The affordable housing industry is constantly changing. Developers, managers, investors, syndicators, financiers, and owners need accountants and consultant like Terry&Company, P.C. that can keep you up-to-date on the most recent changes.
We offer the following services to the housing industry;
- Asset management advisory
- Audit and assurance
- Contract support
- Cost certification
- Due diligence
- Forensic accounting and litigation support
- Government-assisted and government-insured properties
- Historic tax credits
- Internal audit
- Low-income housing tax credits
- Management advisory
- State and local tax
- Tax advisory
- Tax-exempt bond financing
- Transaction structuring and real estate advisory
- Valuation and transaction advisory
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Low Income Housing Tax Credits
The Low Income Housing Tax Credit (LIHTC) is a tax credit created under the Tax Reform Act of 1986 that gives incentives for the utilization of private equity in the development of affordable housing aimed at low-income Americans. The credits are also commonly called Section 42 credits in reference to the applicable section of the Internal Revenue Code. The tax credits are more attractive than tax deductions as they provide a dollar-for-dollar reduction in a taxpayer's federal income tax, whereas a tax deduction only provides a reduction in taxable income.
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Tax Credit Assistance Program (TCAP)
The tax credits are more attractive than tax deductions as they provide a dollar-for-dollar reduction in a taxpayer's federal income tax, whereas a tax deduction only provides a reduction in taxable income.
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Tax Credit Exchange Program (TCEP)
The Tax Credit Exchange Program allows state housing credit agencies the option of exchanging eligible portions of the state’s housing credit ceiling for cash grants.
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Enterprise Reporting Requirements
Is Enterprise Community Investment your Syndicator? Read about their financial statement and tax return requirements.
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