New Repair & Maintenance Rules: Effective 1/1/2012

In late December 2011, the Internal Revenue Service (“IRS”) issued new regulations that have come to be known as the “repair and maintenance regulations”. Later, in March of 2012, the IRS issued procedural guidance for taxpayers to follow in complying with the new regulations. Full article…

4 Bidding Mistakes to Avoid

There are many places where a construction business could stumble during a long project, but one of the worst has to be at the very beginning – during bidding. There are four common bidding mistakes to avoid and also ways to ensure that contractors submit the best offer for both the job in question and their construction company. Full article…

Kentucky Condo Act: Rules impact every condo association

The Kentucky Senate recently passed HB 433, the 2012 Condo Revision Bill, which significantly improved and revised the 2010 Condominium Act. The new changes will impact all condo associations, condominium boards, condo sellers/buyers, real estate agents, condo managers, accountants, attorneys and developers. Full article…

Low Cost Financing Opportunity: Midwest Disaster Bonds

Some midwestern real estate owners and developers may now be able to obtain tax-exempt financing for certain 2012 projects. In October 2008, Congress passed the “Disaster Act”, which created a new category of federally tax-exempt bonds called Midwestern Disaster Bonds (“Disaster Bonds”). Full article…

New Energy Incentives: Update from the IRS

In notice 2012-22, effective for real estate placed in service March 13, 2012 through December 31, 2013, the IRS modifies previous energy improvement percentages for taxpayers, when qualifying for a partial “year one deduction” under Code Section 179D. The new percentages are 25% for interior lighting and 15% for HVAC, and 10% for the building envelope. Full article…