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January 2014

Save These Dates!


Blog main picMark your calendars now for McKonly & Asbury's 2014 Affordable Housing Seminars.

Our Spring Seminar is planned for June 5, 2014. Holly Glauser, Director of Development at PHFA, will speak on recent low-income housing tax credit news from PHFA's perspective. Macy Kisilinsky of PNC Real Estate along with McKonly & Asbury's Terry Harris will speak on year 15 tax credit compliance expiration and investor exit strategies. Additional topics and speakers to be added.

Our Fall Seminar is planned for September 18, 2014. A.J. Johnson will be the speaker and will be presenting on topics such as calculating eligible and qualified basis, calculating the applicable fraction, and calculating first-year credits.

Seminars will be held at the Giant Community Center – inside the Giant Food Store at 3301 East Trindle Road, Camp Hill, PA 17011.

Stay tuned for additional details!


Changes in Accounting Rules for LIHTC Investments


CalculatorAt their November 14, 2013 meeting, the Financial Accounting Standards Board’s (FASB) Emerging Issues Task Force (EITF) approved generally accepted accounting principles (GAAP) amendments for low-income housing tax credit (LIHTC) investments. The proposal is designed to ease the accounting requirements for investors who buy tax credits that fund construction of affordable housing developments.

Continue reading "Changes in Accounting Rules for LIHTC Investments" »