Cherrytree Group Blog

Zoning In On An Opportunity To Save On Taxes

[fa icon="calendar'] Feb 17, 2020 8:51:26 AM / by Warren Kirshenbaum posted in Brownfields Tax Credits, Historic Rehabilitation Tax Credit, Renewable Energy, Low Income Housing Tax Credit (LIHTC), capital gains rates, environmental tax credit, Tax credits, opportunity zones, ITC, OZ, tax reform, historic tax credits, historic buildings

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Unless you happen to earn your living in the financial planning field, you maybe be only slightly aware of the monumental nature of the changes to the IRS’s

, passed by Congress in 2017.

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Reflecting on 2018

[fa icon="calendar'] Jan 7, 2019 11:38:35 AM / by Warren Kirshenbaum posted in Historic Rehabilitation Tax Credit, Passive Income, Renewable Energy, Federal Tax Credit, Low Income Housing Tax Credit (LIHTC), tax credit, environmental tax credit, Tax credits, Tax planning, Brownfields, warren kirshenbaum, melina ambrosino, Event, opportunity zones, family office, ITC, federal, state tax credits, OZ, tax reform, o zone

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After purchasing our own historic building at 287 Auburn Street, Newton, Massachusetts in late September of 2017, we were anxious to begin rehabilitation of the building and move into our new home.

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Opportunity Zones: By the Numbers

[fa icon="calendar'] Nov 14, 2018 10:16:09 AM / by Warren Kirshenbaum posted in Federal Tax Credit, Low Income Housing Tax Credit (LIHTC), tax credit, opportunity zones, state tax credits, OZ, tax reform, o zone

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In December, 2017, the Tax Cuts and Jobs Act of 2017, established Opportunity Zones by way of a provision of the Internal Revenue Code i.e Section 140OZ-2 (the "OZ Rules"). Pursuant to the OZ Rules, Treasury directed the individual states to designate certain census tracts as Opportunity Zones.

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Twinning of Tax Credits

[fa icon="calendar'] Apr 1, 2015 12:30:00 PM / by Warren Kirshenbaum posted in Historic Rehabilitation Tax Credit, federal tax credits, Federal Tax Credit, Low Income Housing Tax Credit (LIHTC)

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Historical buildings lend themselves very well to multifamily residential use.  

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When performing an adaptive reuse of a historic building, in addition to the possibility of utilizing historic tax credits (HTC's), if a certain number of the residential units are designated as affordable there may be a possibility to secure low-income housing tax credits (LIHTC's).  In such a project, there will need to be a twinning of the two different types of tax credits, and successful completion of the project will hinge on the attention needed to be paid to the structuring of the transaction, the coordination between the requirements of each program, as well as the specific protections needed by the tax equity provider(s) and/or the lender(s).

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