Category: Real Estate

Landlords and property managers of residential rental real estate in Minnesota are subject to a new Minnesota Department of Revenue (DOR) requirement. Beginning with 2024 Certificates of Rent Paid (CRP), the forms must be created and submitted to Minnesota DOR electronicall...

For all the attention the CARES Act has received recently for “Stimulus Checks” for individuals, and the “Payroll Protection Program” (PPP) for small businesses, I wanted to highlight a few areas of the CARES Act that directly affects the real estate industry and ren...

The 179D deduction has been gone since 2017 and the good news is that it is back.  The tax extenders bill passed in December 2019 with this popular Energy Efficient Commercial Buildings Deduction.  This had become a viable tax savings strategy again for many taxpayers. The...

It is inevitable, blockchain technology will reshape how the real estate industry operates in the coming years.  It is going through a digital transformation of sorts....

At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or more of these dangers materialize. Here are some common types of risks to researc...

Cloud computing — storing data and accessing apps via the Internet — has been widely adopted by businesses across industry and size. Like many technological advances, though, new derivatives continue to emerge — including so-called multicloud computing. ...

Lapping schemes are one of the most common ways crooked employees skim money from their employers. In these schemes, a perpetrator uses receipts from one account to cover theft from another. Here’s what lapping looks like and how you can help prevent it....

Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer credit, it also brings sizable financial risk to your business, as cash flow could grind to a halt if these customers don’t make their ...

The Minnesota Legislature recently passed a tax bill that conforms or partially conforms several Minnesota tax laws to changes made under prior Federal tax bills. Below is a link to a listing provided by the Minnesota Society of CPAs (MNCPA) of the items that now conform or...

Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve, it’s certainly not too early for business owners to start doing some strategic planning for next year. Here are som...

In reporting financial results for real estate companies, Generally Accepted Accounting Principles (GAAP) and the income tax basis of accounting often provided very different financial reporting results.  If the real estate company is not required to provide GAAP financial ...

We all know that solar energy can save you money on future energy costs. But did you also know that there is a federal Solar Investment Tax Credit (ITC) of up to 30% of the total cost of the energy property? The energy property must meet performance and quality standards, mu...