July 23, 2024: So You Want to Be a LIHTC Developer: 6 Ways Auditors Add Value to Your Business

In this episode of the Tax Credit Tuesday “So You Want to be a LIHTC Developer” series, Michael Novogradac, CPA, and guests Novogradac partner Susan Wilson, CPA, and Novogradac principal Robert Bennett, CPA, delve into the critical benefits of low-income housing tax credit (LIHTC) audits. This episode focuses on six ways audits provide value to LIHTC owners and developers, including eligible basis calculation, tenant compliance, first-year credit optimization, cash waterfall distributions and analytical review procedures. Learn how specialized expertise can enhance decision-making, sustain property feasibility and save time and money for developers and stakeholders in the affordable housing sector.

Summaries of each topic:
1. Introduction to Tax Credit Tuesday (00:00-02:59)
2. Meet the Experts: Susan Wilson and Robert Bennett (03:00-04:58)
3. Understanding the Value of LIHTC Audits (04:59-05:21)
4. Eligible Basis and Cost Certification (05:22-10:08)
5. Tenant Compliance in LIHTC Audits (10:09-18:07)
6. Maximizing First-Year Credits (18:08-24:13)
7. Cash Waterfalls and Distributions (24:14-29:36)
8. Analytical Review Procedures (29:37-33:57)
9. Leveraging Auditor's Industry Experience (33:58-37:16)
10. Concluding Tips and Shout Outs (37:17-47:09)