May/June 2012
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| Repairs vs. capital improvements — IRS issues long-awaited rules on tax treatment | |
 | The IRS has released temporary regulations on the tax treatment of expenditures related to tangible property, such as buildings, machinery, vehicles, furniture and equipment. This article discusses those regs, which directly address how to determine whether an expenditure is to be considered a repair or a capital improvement. This, in turn, affects whether the cost is deductible or is treated as a capital expenditure. The regs also expand the definition of “dispositions” and of “materials and supplies.” A sidebar discusses an exception to capitalization rules for specific acquisitions. Read More |
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| LEED-ing the way in green building | |
 | Cities, businesses and individuals are increasingly seeking out — and often happily paying a premium for — properties with Leadership in Energy and Environmental Design (LEED) certification. LEED certification offers independent, third-party verification that a building, home or community was designed and built using strategies aimed at achieving high levels of environmental sustainability. This article looks at how the LEED certification program has changed over the years, and what LEED 2012 offers when it takes effect in November. Read More |
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| C corporation acquisitions: Beware of the tax issues | |
 | While most buyers follow the traditional path of directly purchasing real estate, some take a more round-about route: They acquire the stock of the C corporation that holds the property as its primary asset. However, as this article explains, this approach comes with several tax pitfalls and complications — such as double taxation, basis and transfer tax issues. Read More |
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| Ask the Advisor — Is structured financing right for me? | |
 | Even in the tight credit market, many developers continue to seek financing in the form of debt and equity. But in some circumstances, it may be possible to combine different offerings from commercial capital markets, thus maximizing leverage and minimizing cash equity requirements. This article examines the benefits of structured financing, along with some critical considerations. Read More |
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This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and accordingly assume no liability whatsoever in connection with its use. ©2012 • REAmj12 | |