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Tag: real estate

Real Estate in the Rear View + Outlook for 2022

2021 was the first full year that the global economy cycled through the pandemic. What were the predictions going into 2021 and where did we actually end up? Here we take a look at how the real estate and construction industries fared last year and where they’re headed in 2022. Economic Recovery 2021 Prediction: ?-Shaped 2021 Reality: K-Shaped 2022 Outlook: K-shape will continue   As 2020 wound down and economists and prognosticators put 2021 in their sights, there were plenty...

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Wiss Welcomes Neidich & Co.

We are excited to announce that Neidich and Company has joined Wiss, effective January 1, 2022. Neidich is based in Mountainside NJ, where its office will continue to remain open.   Neidich is a leading accounting firm in NJ serving privately owned real estate companies. Founded in the 1950s by Sid Neidich, the firm is currently led by Charles Tarlowe who became Managing Partner in 2021 after the passing of his partner, Michael Beck. Like Wiss, Neidich prioritizes meaningful relationships...

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Wiss Helps You Run Your Business With an Eye on the Future

By Eliezer Gross, CPA Wiss is a full‐service accounting firm that provides more than annual tax compliance or updates on the latest tax law changes. Our clients frequently seek guidance during every stage of their business: startup, growth phase, succession planning, and exit. Here’s how Wiss has solved some of the challenges our clients face in the real estate industry. The Challenge: Real Estate Acquisition Clients in the growth stage of their business who make real estate acquisitions...

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The Benefits of Automated Cashflow Reporting

By Travis Miskowitz, Director, CFO Advisory Protecting data integrity while leveraging data for strategic insights and decision‐making Imagine that you’re the head of a real estate company that has 90 bank accounts. You want to know the details of your cashflow, so you request that someone from the accounting team update you on the activity and cash balances twice a day. The employee spends his entire week doing this manually — checking each of the 90 accounts and transferring...

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How Proposed Tax Law Changes Will Disrupt the Real Estate Industry

By Alexander J. Narcise, Partner-in-Charge, Real Estate & Construction Services The American Families Plan, which the White House describes as “once‐in‐a‐generation” legislation, is designed to help families cover basic expenses such as health care, education, and childcare. The plan, announced in March, includes about $1 trillion in investments and $800 billion in tax cuts over ten years, paid for in part by higher taxes on those making $400,000 or more per year. The...

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A New World in Real Estate: PropTech and Big Data

By Brian Burte, Manager To succeed in this digital era, companies of all kinds must be firmly grounded in technology. That’s as true for us at Wiss as it is for our clients in a range of industries, including real estate. And while real estate has traditionally been slow to adopt new technology, that is changing fast. Our real estate clients are using technology to automate many business functions, such as accounting, HR, and payroll. And they are using digital tools to...

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Do You Qualify for the New Jersey PILOT Program?

By Alexander J. Narcise and Michael Kroll Under New Jersey’s Payment In Lieu of Taxes (“PILOT”) program (N.J.S.A. 40A:20-1), many distressed areas of the state are seeing a resurgence. The PILOT program allows municipalities to exempt developers from full property taxes for a set period of time when making improvements to existing buildings or creating new projects in areas in need of redevelopment, aiming to encourage commercial, residential, and industrial development. Developers...

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Loan Modifications and Options

By Tricia Meola With the effects COVID-19 has created for the US, federal, state and local governments are working hard to respond to the growing public health threats – but what about the financial uncertainties? As unemployment rates rise and millions of Americans continue to file for unemployment benefits, many are faced with the inability to satisfy their mortgage obligations and are aware of their options. Know your mortgage The most important place to begin is to be acquainted...

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Anticipating COVID-19 Impact on Commercial Real Estate

By Russell L. Faye With the global pandemic caused by the COVID-19, the commercial office market has felt an immediate impact. For commercial real estate professionals,  please consider the following as you navigate through these challenging times: Be prepared for enhanced cleaning for an extended period. Government officials have suggested enhanced cleaning procedures and measures and building operators across the county have quickly implemented these enhanced measures. Consider...

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A Breakdown of the Opportunity Zones Program as the Deadline for Investment Nears

Interview with Alex Narcise and Stephanie Hughes The Opportunity Zones program, created by the 2017 Tax Cuts and Jobs Act, offers private equity firms, family offices, and asset managers the chance to make an investment with up to 100% exemption of capital gains taxes. The deadline, however, is fast approaching: December 31, 2019. In this post, we’ll provide a breakdown of the program, as well as lay out the possible advantages and disadvantages of investment. Let’s dive in. What...

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