Making Long-Term Decisions About Working From Home

It can be a tough scenario to confront: First you sent your employees home to work remotely due to the COVID-19 pandemic. Now they want to stay there permanently. Should you allow employees to work from home more than they have in the past? Or do you think “This just isn’t working” for one or…

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Federal Tax News

1. The deadline for the third 2021 estimated tax payment is coming up on September 15. Changes in the economy brought by COVID-19 include a new crop of self-employed persons, such as gig-economy workers. Like most people with income that isn’t subject to withholding, these workers may need to make estimated tax payments for the first…

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Deadline Coming: Follow Up on Your PPP Loans

Payroll Protection Plan (PPP) loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Small Business Administration (SBA) approved nearly 12 million PPP loans, averaging $67,000. The PPP program stopped accepting loan applications on May 31, 2021. However, you still may need to complete the requisite…

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Applying for Construction Loans Today

As the economy recovers from the COVID-19 pandemic, real estate investors and developers may need construction loans. Here’s an overview of the financial and nonfinancial information that lenders will consider as they evaluate your loan application. Collateral concerns While lenders secure regular commercial loans with existing cash flow, they secure construction loans with unfinished collateral.…

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Spring 2021 Real Estate Advisor Newsletter

Click here to access the full Spring 2021 Real Estate Advisor Newsletter. The articles in this issue include: 2020 Case Roundup: How the IRS Challenges Conservation Easement Charitable Contributions Applying for Construction Loans Today Appropriations Law Addresses PPP Forgiveness, Tax Treatment How to Use Smart Technologies Smartly

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NJEDA Opens Pre-registration for Phase 4 of Small Business Relief

The New Jersey Economic Development Authority (NJEDA) announced Phase 4 of the Authority’s Small Business Emergency Assistance Grant Program on Wednesday, April 14, adding $85 million in funds from the CARES Act. Phase 4 will provide grants up to $20,000 to New Jersey small and medium sized businesses and non-profits that have been negatively impacted…

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Appropriations Law Addresses PPP Forgiveness, Tax Treatment

The Consolidated Appropriations Act (CAA), signed into law in late December 2020, allocated additional funding for forgivable loans through the Paycheck Protection Program (PPP) — for both first-time and so-called “second-draw” borrowers who’ve been hit by the economic effects of the COVID-19 pandemic. It also includes several critical provisions related to loan forgiveness and tax…

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Proposed Regulations Clarify Rehabilitation Credit

aerial view of residential neighborhood

The IRS has released proposed regulations regarding changes made to the Internal Revenue Code’s Section 47 rehabilitation tax credit under the Tax Cuts and Jobs Act (TCJA). The regulations address several taxpayer concerns that have arisen in the wake of the law’s passage, including how the credit should be allocated. TCJA’s amendments Prior to the…

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What COVID-19 Might Mean for the Multifamily Sector

The COVID-19 pandemic has had a dramatic impact on almost every industry, including real estate. Owners, investors and developers already are seeing ripple effects across sectors. This article looks at how the virus might bring changes to multifamily housing that could endure into — or at least heavily influence — the future. A short sidebar…

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Self-Employed May Be Eligible for COVID-Related Tax Breaks for 2020

If you’re self-employed as a sole proprietor, partner or limited liability company (LLC) member, COVID-relief legislation passed in 2020 included tax breaks that may affect your 2020 personal federal income tax return. In some cases, the tax savings may be significant. Here are two important COVID-related tax breaks that every self-employed individual should consider before…

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