Valuing and underwriting low-income tax credit housing projects

Article Abstract:

The Low Income Housing Tax Credit program has become one of the most successful US affordable housing programs. It began in 1986 and became a permanent program in 1993. New and renovated housing has been utilized in this program. Tax breaks and retroactive penalties for failed projects have made this program provide consistently good results. Government grants, government-owned public housing and corporate charitable projects have not been as successful.

Administration of Housing Programs, Low Income Housing Prgrms, Evaluation, Public housing, Housing policy, Low income housing tax credit

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Profit vs. Pleasure: Income Taxation of Vacation Home and Hobby Farms

Article Abstract:

Sections of the Internal Revenue Code (IRC) pertaining to deductions for business expenses are identified. Sections that limit deductibility are examined. Vacation homes and businesses that have a hobby or pleasure aspect are being given close scrutiny by the Internal Revenue Service (IRS). Sections dealing with the subject are explained. Three tables show examples of how sections apply. A landmark Tax Court case, Bolton v. Comm'r., is examined.

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Capital allowances and contracts of sale

Article Abstract:

Those involved in property sales should seek professional advice as to the treatment of capital allowances before they enter an agreement. While there has been considerable information on the availability of capital allowances on plant and machinery, little has been written about the vendor's liability on disposal. An examination of the contractual considerations involved in capital allowances is presented.

Taxation, Capital assets

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