This webinar examines the factors to consider when determining proper capitalization of costs to fixed assets and the subsequent inclusion of those costs in LIHTC eligible basis. The focus of the discussion centers on the planning, tax credit application and construction phases of a project.
This webinar is designed for real estate developers and their accounting staff as well as those who work with them, including attorneys, consultants, asset managers, etc.
- Overview of capitalizing costs and eligible basis
- Eligible basis (inclusions/exclusions)
- Off-site improvements
- Commercial property
- Land
- Demolition costs
- Land vs. land improvements
- "Inextricably associated"
- Capitalization of Soft Costs
- Direct
- Other
- Indirect
- Production period
- Amortization
- Interest, bond issuance costs, etc.
About the Instructors
James Kroger is a partner in the San Francisco, Calif. office of Novogradac & Company LLP. Mr. Kroger has extensive experience in consulting for affordable housing projects with financing from low-income housing tax credits and tax-exempt bonds. He conducts workshops regarding tax credit applications, tax-exempt bond applications and tax credit property compliance; and he has created a training program to help property managers become certified in IRS Section 42 tax credit property compliance. Mr. Kroger serves as the technical editor of the firm’s LIHTC Property Management Handbook as well as the technical editor on property compliance issues for the monthly Novogradac Journal of Tax Credits, which includes news, analysis and commentary designed to assist property managers and owners with IRS Section 42 tax credit property compliance. He serves on the board of directors of the California Housing Consortium and is often a speaker at the housing credit conference hosted by the National Council of State Housing Agencies. He received his bachelor’s degree in legal studies from the University of California at Berkeley and his master’s degree in business administration from the University of California at Davis. Mr. Kroger is licensed in California as a certified public accountant..
Wayne Michael is the director of education and business development for Novogradac & Company LLP. He has worked with low-income housing tax credits since 2003 and teaches tax credit classes and workshops, simplifying the subject matter for audiences of varying levels of experience. Mr. Michael graduated from Brigham Young University with a bachelor's degree in accounting and is licensed as a certified public accountant in California.
System Requirements
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Webinar Cancellations & Refunds
If you are unable to attend a webinar and would like a refund on your registration fees, you must submit a cancellation in writing at least 3 days prior to the event. Please submit cancellations to events@novoco.com. We regret that we cannot issue a refund to those who cancel after the log-in information has been distributed.
In the event of a major technological problem that prevents or interrupts our transmission of the webinar broadcast, such as a power outage at our broadcast site, we will either re-broadcast the webinar or issue registrants an event credit. Credits may be applied toward any Novogradac & Company LLP event and are valid for one year from the credit's date of issuance.
Terms and Conditions
Except as explicitly stated in the program materials (if applicable), the webinar will not qualify attendees for any type of continuing education credit or certification issued by any organization.
As a condition of viewing the webinar, you must agree to the following terms and conditions (the "Terms"). If you do not agree to the Terms, do not purchase this webinar.
Novogradac & Company LLP webinars are presented as general learning opportunities and are not a substitute for professional advice. You agree not to make business or financial decisions based solely on the webinar materials and you agree that we are not responsible for business or tax decisions made by webinar attendees based on the information provided by the instructors during the webinar. Each tax credit property has specific issues and circumstances associated with that property. Webinar attendees are strongly encouraged to consult their legal and/or tax advisors for advice specific to the attendee's specific circumstances.
