GMS SURGENT
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​Historic Tax Credits

Historic Rehabilitation Tax Credits
Federal tax law provides tax credits for up to 20 percent of qualified rehabilitation costs on historic projects. Many states have a similar program for credits of 25 percent or more of qualified costs. At GMS Surgent, we help our clients through the process from the planning stages of the historic project through the disposition of the building, enhancing the amount of tax credits earned and avoiding delays in receiving important benefits. We coordinate our services with other members of the team such as the architect, contractor and historian.

Consulting Services – Record keeping set-up for project accounting; guidance on what qualifies as eligible costs and how to enhance credits in specific areas such as electrical wiring and mechanical systems; responding to state agencies regarding costs submitted for tax credits.

Financial Models – Developing a financial model and/or feasibility analysis for internal use, bank financing or equity investors.

Cost Certification – An audit of the project costs is required by most state agencies and by all tax credit investors.

Tax Return Preparation – Specialized services for the reporting of federal and state tax credits often required by federal investors for the five year tax credit recapture period. 

Financial Statement Audits – Preparation of an annual financial statement audit during the five year tax credit recapture period, if required by federal tax credit investors. 
PA EITC OVERVIEW

HISTORIC TAX CREDITS

 

Contact GMS Surgent

DEVON OFFICE
237 W. Lancaster Avenue
Suite 1000
Devon, PA 19333

PHILADELPHIA OFFICE
1608 Walnut Street
12th Floor
Philadelphia, PA 19103

P: 610.975.9122
F: 610.975.9132
E: info@gmssurgent.com

 
HOME | WHO WE ARE | WHAT WE DO | WHO WE SERVE | EMPLOYMENT | RESOURCES | CONTACT US  | CLIENT PORTAL LOGIN
237 W. Lancaster Avenue, Suite 1000   |   Devon, PA 19333   |   610.975.9122 
Picture
  • Home
  • Who We Are
    • Partners >
      • John Surgent
      • Brian J Gallagher
      • Lauren Adamski
      • Richard Pritz
      • Brian Pugliese
      • Lori Toonder
    • Partner Emeritus >
      • William J Schalleur
      • Joseph Mcdevitt
    • Director & Managers >
      • Everett Minger
      • Terri Devine
      • Stephanie Sommers
    • Firm Culture
  • What We Do
    • Accounting and Assurance >
      • Agreed Upon Procedures
      • Green-E Energy
      • Employee Benefit Plans
    • Business Advisory Services >
      • Profitability Analysis
      • Business Valuation
      • Bankruptcy - Insolvency
      • Litigation Support
      • Strategic Planning
    • Individual Advisory Services
    • Tax Strategies and Compliance >
      • PA EITC Overview >
        • PA EITC Step by Step
      • Historic Tax Credits
    • Technology Solutions
  • Who We Serve
    • Real Estate
    • Construction
    • Emerging Technology
    • Life Sciences
    • MFG and Distribution
    • Preferred Individuals
    • Private Equity and VG
    • Professional Services Firm
    • Retail and Consumer Goods
    • Trusts and Estates
    • Non-Profit Organizations
  • Employment
    • Opportunities
    • You and GMS Surgent
  • Resources
    • Client Alerts
    • Firm Newsroom
    • Useful Links and Tools
  • PAY MY BILL