COVID-19 impacted the economy dramatically and commercial real estate was no exception in terms of decreased values. Often, the real property could no longer service the debt used to finance it. This debt restructuring and resulting debt forgiveness can result in taxable income. Taxable Income and Debt Cancellation If you have a $80,000 loan and …
Even before the pandemic began, the U.S. residential real estate market was short on houses, with more people looking to buy than those who were selling. And yet, unlike the 2008 recession, any economic woes related to the pandemic did not undercut housing prices. If anything, real estate had a banner year as home prices …
Congratulations to Partner Meaghan Reynolds who has been featured in the Louisville Business First’s Top 20 People to Know in Accounting in 2021.
The world of real estate will always have its ups and downs and 2020 has been no exception. Looking ahead to next year with a new administration there are many changes expected that will create possible shake-ups in real estate. While what I discuss in the following article are planned changes, there is always an …
Since March of this year, the U.S. economy and all industries therein have in some way, shape or form been affected by the long reach of COVID-19. The pandemic has triggered chaos across the country as business owners and individuals alike struggle to regain the stability they enjoyed such a short time ago. Businesses that …
Residential Real Estate Market Remains Stable Amidst Pandemic Crisis Read More »
By: Caroline Kaye CPA, Supervisor – With the passage of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) on March 27, 2020, by Congress, there have been many questions about how the CARES Act will impact the real estate industry. For businesses, the provisions of the CARES Act are centered around increasing liquidity, …
How the Federal CARES Act Will Affect the Real Estate Industry Read More »
