We have extensive experience in all areas of HUD-assisted housing projects.
HUD-assisted housing organizations must navigate a wide range of federal and state programs. While these programs offer various opportunities for tax-exempt financing, tax credits and other financial benefits, they carry a number of regulatory obligations that must be met with compliance.
At Cornwell Jackson, we have extensive experience in all areas of the real estate industry, including HUD-assisted housing projects developed by for profit-motivated and non-profit entities. Our team maintains high quality standards and stays current on the latest regulations and compliance requirements through continued professional education on HUD, membership into the Affordable Housing Association of Certified Public Accountants (AHACPA), and membership in the BKR Affordable Housing practice group which provides national resources within our BKR accounting affiliation. We provide audit, tax, accounting, and advisory services to a variety of organizations:
Areas of expertise include:
- HUD multi-family (profit motivated and non-profit)
- HUD Public Housing Authorities (PHAs)
- Real Estate Assessment Center (REAC) filings
- Low-Income and Senior Housing Developments
Our services in this industry include:
- HUD Audit, review, or compilation of financial statements
- Comprehensive tax services
- 1031 like-kind exchanges
- 1065 return preparation
- Form 990 compliance and preparation
- Tax planning and consulting
- Accounting services and outsourced controllership
- Compliance and advisory services
- Federal/state/local regulations
- Establishment and monitoring of internal controls
- Distribution rules for partnerships and other expenses
- Transaction analysis and due diligence
- Cash flow and profitability analysis
Our goal is to provide you with the most competitive fee and services possible. We have saved some firms up to 30% in the professional fees they pay for a HUD compliance financial audit. How do we do it? It’s simple – technology and process. Our team is experienced and efficient. We use a cloud-based auditing tool that offers a secure client portal on the web to upload documents needed for audits- this saves time on travel, coordination, couriers, etc. and allows our team to start working on audit procedures as soon as documents are uploaded online. Our team can accomplish a great deal at any location and keep hassles at your location to a minimum.
Recent HUD Blog Posts:
The Supreme Court of the United States recently ruled on a case that may have a profound impact on a number of Americans. No, not that one, or that one. We’re talking about the case Texas Department of Housing and Community Affairs v. The Inclusive Communities Project (ICP). Not quite the sizzle of other recent cases, but the effect it could have on businesses involved in real estate and mortgage lending is significant. The ruling in this case held that disparate impact claims are recognized under the Fair Housing Act. Read the complete article on our blog.
“They know our business. I trust them, I can sleep well at night knowing that from an accounting perspective we’re not going to have any problems. I honestly believe they are genuinely happy that we’re successful and they’re working to help make sure that happens.”
Jim Schwab, CrimStone Partners