Tax planning options are varied and complex — almost as if they were designed with some sort of mischievous intent. The Internal Revenue Code is a labyrinth of hard-to-decipher regulations intended to minimize tax sheltering and avoidance. Books could be written about the complexities — if it weren’t that those books would be out of [...]
This was a year that challenged us in ways we never could have imagined. At Cherrytree we’re hardly alone in that assessment, yet all of us feel fortunate to have remained healthy and productive throughout a year that will be fondly remembered by…almost no one. Here’s how 2020 played out for us: In order to [...]
As we all work quickly through our business day, there’s a tendency to use shorthand to describe various financial instruments, initiatives and strategies. We all do it. But sometimes the meanings can become lost. In recent interactions with our clients, I have noticed some confusion between the phrases: “tax credit investment,” “working capital needs” and [...]
At the Cherrytree Group, we understand tax credits are a bit of a “dense” topic. And we also understand that many real estate developers and investors don't always know where to begin to find out if they might be a candidate to take advantage of the various Federal and state tax credit programs. That’s why [...]
Connecticut Solar Portfolio A Solar Investment Tax Credit allows investors to deduct 26% of installation costs from federal taxes, which applies to all residential and commercial systems. Cherrytree worked with the renewable energy developer MSL Group to successfully complete multiple projects across Connecticut. Together, these projects will realize over $2.75 million in tax [...]
Brownfields Remediation Massachusetts Cherrytree Group has successfully filed over $55 million in Massachusetts Brownfields tax credits since 2013, with an expected pipeline of an additional $30 million dollars expected to be filed by the end of 2020. Other recent Brownfields programs for which Cherrytree consulted with the client and interfaced with state agencies: [...]
Low-Income Housing Western Massachusetts Creative financial planning breathes fresh life into historic districts in two Massachusetts towns. Several abandoned buildings located within historic districts in Millers Falls and Turners Falls were preserved by the projects, undertaken by Pioneer Valley Redevelopers and Obear Construction Company. In all, 12 affordable housing units were created, along [...]
Historic Rehabilitation Worcester, Massachusetts A 95-year-old six-story office building in the second largest city in Massachusetts is being converted into commercial space on the lower two levels, with residential units throughout the remainder of the building. . The 20,000 square feet has a steel structure with cement floors, elevator, and lime stone [...]
By Warren A. Kirshenbaum Within the Tax Cuts and Jobs Act of 20171 (the “Tax Reform Legislation”), was a provision that initially did not generate much interest and excitement, but it may be one of the most significant tax reform codifications that we have seen in decades. View This White Paper [...]
Plymouth, MA Over $750,000 in Federal tax credits and $500,000 in state credits were secured for this conversion of a 100-year-old community post office into retail spaces, luxury apartments, as well as continuing as a U.S. Post Office in one part of the building. The project was named by the state of [...]
