Dear Friends, Today marks a significant milestone in the journey of both Tidwell Group and EisnerAmper, and I am thrilled to share some exciting news with you. After thorough deliberation and planning, Tidwell Group and EisnerAmper have decided to combine practices. This decision is not just about bringing together two organizations but is a testament to our shared values, ambitions,…
By: Michael Wilson, CPA Summary On August 16, 2022, President Joe Biden signed into law H.R. 5376, more commonly known as the Inflation Reduction Act of 2022 (the “Inflation Reduction Act”), which includes $369 billion in incentives for clean technologies, including wind, solar, storage, hydrogen, nuclear, carbon capture, and biofuels to increase investment in the renewable energy sector. These incentives…
Birmingham, Ala., January 18, 2024 – Tidwell Group proudly introduces Tom Pyper as the newest Assurance Partner in our Columbus office. Tom’s addition marks a significant milestone for us, reflecting our commitment to excellence and client-focused dedication. Barry Tidwell, CPA, CVA, our National Managing Partner, expressed his enthusiasm, stating, “We’re thrilled to welcome Tom Pyper to the Tidwell Group family.…
By Russ Johnson, CPA As the world moves towards a more sustainable future, clean energy has emerged as a frontrunner in the fight against climate change. However, transitioning from traditional energy sources to renewable ones is not always an easy or affordable task. Recognizing this challenge, governments around the world, including the United States, have implemented incentives to encourage the…
By J. Barry Tidwell, CPA, CVA The VUCA – Volatility, Uncertainty, Complexity, and Ambiguity – world has turned the business landscape into a maze of unpredictability. This rapid transformation has made staffing a Herculean task. As leaders, it’s our duty to steer our organizations through these choppy waters, providing a clear vision and robust training to our teams. (more…)
By: Amie Gray When considering the Qualified Contract process, price calculation can help determine whether or not to seek early release from IRC Section 42 compliance. (more…)
By: Robert Boot Personal branding is a proactive strategy to advance your career and stand out beyond your results and reputation. It elevates your first impression of others. This strategy is different from shameless self-promotion. Eagerly seeking opportunities to tout your skills in every situation is a surefire way to make yourself seem arrogant. Conversely, when talented people surround you,…
BIRMINGHAM, Ala., August 2, 2023 – Tidwell Group, a top 120 largest accounting and consulting firm in the US, proudly announces the appointment of Natalie Giesen, Mindy Reed, and Michael Wilson as the firm’s newest Partners. Their inclusion in the partnership is a significant achievement for these talented young professionals and shows their dedication to putting clients first. “We couldn’t…
By: Ryder M. Mathias, CPA The Inflation Reduction Act has changed the game for energy tax credits in affordable housing and real estate. Our recent article outlines your opportunities. (more…)
June 13, 2023 By Wayne Jordan, CCNA, MCITP Artificial Intelligence (AI) has been making waves in just about every industry, and the finance and accounting world is no exception. AI-powered tools, especially Large Language Models (LLMs) like GPT-4, are proving to be invaluable assets. This article delves into the benefits of using LLMs to assist in writing formulas for…
The Inflation Reduction Act (IRA) of 2022 provided taxpayers with a tax credit for new or largely reconstructed homes that meet the DOE Zero Energy Ready Home (ZERH) requirements by amending Internal Revenue Code Section 45L. This legislation included a ten-year extension of the 45L Energy Efficiency Home Credit and nearly $370 billion in provisions for green energy efforts. According…
BIRMINGHAM, Ala., February 10, 2023 – Tidwell Group, an IPA Best of the Best and Fastest Growing Firm, welcomes Greg Harris, CPA, MST, and Chadd C. Weisert, J.D., LLM, as its newest Partners. “Tidwell Group can only bring the highest levels of service to our valued clients by accomplishing our goal of assembling the best accounting professionals in the country,”…
Yes, public accounting is changing. Firms are offering the coveted work-life integration and fulfilling relationships that match what people want in the office of the future. There are many different roles and specialties that accounting associates and certified public accountants can gravitate to, and not all of them include spreadsheets or QuickBooks.® There is a misconception that it’s all math,…
Below is a direct copy of the Treasury and IRS Open Public Comments as found on www.Treasury.gov. Click here to download a copy from the US Treasury website. (more…)
Tidwell Group, LLC, is proud to announce that it has been named again a “Best of the Best” accounting firm in 2022. In its 32nd year of recognizing the largest accounting firms in the nation, INSIDE Public Accounting (IPA) 100, 200, 300, and 400 firms are ranked by U.S. net revenues and are compiled by analyzing the more than 500…
By Missouri State Senator Denny Hoskins, CPA Across America, cities are facing an enormous affordable housing deficit. In many states, bills are being considered that will impact future efforts to fund and build low-income housing. Here is how you can have a say in these important housing decisions when they are considered. (more…)
Partner Spotlight Bart W. Parry, CPA Welcome to our Partner Spotlight Series! At Tidwell Group, we’ve built our culture around meeting our clients’ needs with value-based results. Our Partners are a group of hard-working, intelligent, and fun individuals who have a wide array of interests that make them unique. In this series, we will feature different members of our team…
Partner Spotlight Justin L. Heberling, CPA, HCCP Welcome to our Partner Spotlight Series! At Tidwell Group, we’ve built our culture around meeting our clients’ needs with value-based results. Our Partners are a group of hard-working, intelligent, and fun individuals who have a wide array of interests that make them unique. In this series, we will feature different members of our…
BIRMINGHAM, Ala., August 6, 2021 – Tidwell Group, a leading accounting and advisory firm with offices in offices in Alabama, Georgia, Ohio, and Texas, is pleased to announce that Andrew Hooper, Clint Hamilton, Michael Fournier, Patrick Burk, and Sean Hutton have been promoted to Partner. “The expansion of the partner group tells the story of who Tidwell Group is,” said…
Tidwell Group, LLC, is proud to announce that it has been ranked as the 126th largest accounting firm in the U.S. by INSIDE Public Accounting’s 2021 IPA Top 200 Firms. “With over 46,000 CPA firms in the country, it’s an honor to be recognized among the top 200,” said National Managing Partner J. Barry Tidwell. “We are thankful to our…
In a recent documentary, Elon Musk spoke about his business in a way that truly demonstrates the importance of developing an inspiring corporate vision. He is not in the business of building cars or rockets. His vision is to colonize Mars and save the human species. Talk about an ambitious vision! The ability to effectively communicate a vision, even one as…
Women’s History Month is a celebration of women’s contributions to history, culture, and society and has been observed annually in the month of March in the United States since 1987. We at Tidwell Group would like to highlight the accomplishments women have made within the firm and their contribution to Affordable Housing. Please follow us on social media all month…
By CaLandra M. James, MAcc and Jeremy Densmore, CPA Now that the December 29, 2020 deadline for comments to the IRS is behind us, we thought this would be an excellent time to revisit the proposed LIHTC Average Income Regulation that was released on October 30, 2020. The Consolidation Appropriations Act of 2018 introduced an additional minimum set-aside for low-income…
The Taxpayer First Act signed by President Trump, and enacted on July 1, 2019, institutes a new e-file mandate for tax-exempt organizations. This new mandate will potentially have a large impact on those organizations that have preferred to paper file their returns in the past. In addition, the mandate will likely cause many organizations who prepare their returns in-house, to…
If you typically report non-employee compensation to independent contractors on Form 1099-MISC, you will have a new form due this January. The IRS has shifted the reporting of non-employee compensation to form 1099-NEC, in an effort to simplify the use of each form. This new form will require all applicable filers to furnish the 1099-NEC to the payee and file…
By Barry Tidwell CPA, CVA Part 2: Four Traits of ‘Present’ Remote Leaders Several years ago, I made the purposeful decision to work much of the week remotely to pursue a more aggressive M&A growth strategy. This decision to manage remotely was both strategic and necessary, given our firm’s growth into a multi-state, multi-office organization. Working remotely has given me…
People Behind the Numbers Clint Hamilton, CPA – Senior Audit Manager We are proud to introduce the People Behind the Numbers to highlight our outstanding accounting professionals. With their loyalty and dedication to providing superior service to our clients, Tidwell Group has achieved long-term sustainable growth and has become an industry leader within the accounting profession. We firmly believe that…
Tidwell Group is very excited to have been named an IPA Best of the Best Public Accounting Firm for 2020. This acknowledgment follows the firm’s ranking as an IPA Best of the Best Firm for 2019. A tradition that stretches back more than 25 years, INSIDE Public Accounting (IPA) has unveiled its 2020 list of top performers within the profession.…
BIRMINGHAM, Ala., Aug 25, 2020 — Tidwell Group, LLC, is pleased to announce the addition of Ryder M. Mathias, CPA, as its newest Tax Partner. He will be part of the industry-leading team of accounting professionals in the firm’s Birmingham, Alabama office, while working remotely from Charlotte, NC. Ryder has over ten years of experience in public accounting, providing tax…
BIRMINGHAM, Ala., August 4, 2020 – Tidwell Group, one of the nation’s fastest-growing accounting firms, is pleased to announce that Christopher R. Bailey, CPA, and Morgan E. Mahaffey, JD have been promoted to Partner. “I am very proud of both Chris and Morgan for their accomplishments and admittance to the Partner team,” said J. Barry Tidwell, Tidwell Group National Managing…
By Barry Tidwell Part 1: Effective leadership is often best demonstrated in times of crisis. Crisis situations have a remarkable way of either showcasing strengths or exposing weaknesses in leadership. The words and actions of leaders quickly align (or don’t) to transcend moments of volatility, uncertainty, complexity, and ambiguity (VUCA*)… potentially destabilizing dynamics that require more than just logic. When…
IRS Releases Guidance for Changes in the CARES Act that Allows Partnerships to Amend 2018 and 2019 Tax Returns and Benefit from Bonus Depreciation Today the Internal Revenue Service released Rev. Proc. 2020-23, which allows eligible partnerships to amend their 2018 and 2019 tax returns using Form 1065, to take advantage of bonus depreciation changes in the Coronavirus Aid, Relief and…
Introduction Businesses finding themselves impacted by the COVID-19 pandemic may qualify for a portion of the $349 billion allocated for loans by the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The CARES Act loans are guaranteed by the Small Business Administration (SBA) to qualified small businesses. Most importantly, according to the SBA, lenders may begin processing loans on…
In our ongoing efforts to ensure that our clients receive uninterrupted service and are well-informed in the midst of these challenging times, Tidwell Group stays connected to the news that matters to our clients and we share highlights that are important to you. (more…)
In our ongoing efforts to ensure that our clients receive uninterrupted service and are well-informed in the midst of these challenging times, Tidwell Group stays connected to the news that matters to our clients and we share highlights that are important to you. (more…)
RAD for PRAC Offers Solutions for Aging Section 202 Properties By Andrew Gantzer, CPA, and Justin Heberling, CPA, HCCP A recent HUD evaluation of the federal Rental Assistance Demonstration (RAD) shows that the program is achieving its goal of preserving public housing and improving the conditions of distressed public housing. Since enacted through Congress in 2012, the program has stimulated billions…
By: Eric Beining and CaLandra James The Tax Cuts and Jobs Act (TCJA) was a significant revision to the tax code. One of the small changes that made a substantial impact in the nonprofit world was Section 13304 of the TJCA (Sec. 13304), “Limitation on Deduction By Employers of Expenses for Fringe Benefits.” This section soon became known by many…
BIRMINGHAM, AL – December 10, 2019 – Tidwell Group, LLC, is excited to welcome Eric Beining as its newest partner in the firm’s Columbus, Ohio office. Beining’s 20 plus years of commercial real estate, not-for-profit, and public accounting experience are an important addition to Tidwell Group’s already experienced Columbus office. “We couldn’t be more pleased that Eric is joining our…
No one should go hungry. But in the United States, about 37 million people are hungry or “food insecure,” which means they do not know where their next meal is coming from. Every state has its fair share of hunger crises – with Alabama and Louisiana tied for the highest food hardship rates in the nation. Children who do not…
By Lee Dodson, CPA, and Jeremy Densmore, CPA, HCCP Timely delivery of first-year credits benefits developers, syndicators and investors in a Low Income Housing Tax Credit (LIHTC) development. The project itself also benefits because additional equity may be contributed, which means additional funds are available to get the project off to a good start. In this article, we will cover…
By Ashley Northcutt and Chris Thomas New IRS rules on the 100% bonus deprecation deduction may expand the benefits of cost segregation studies. This month, the IRS issued two sets of regulations under IRS Section 168(k) – final and proposed – that clarify qualifying property. The final regulations explain the “increase of the benefit and expansion of the universe of…
BIRMINGHAM, AL – Sept 10, 2019 Tidwell Group, LLC has been named an INSIDE Public Accounting (IPA) Best of the Best Firm for 2019. This acknowledgment follows the firm’s Fastest Growing ranking for 2019, 2018 and 2017. IPA’s annual Best of the Best recognition honors includes 50 U.S. and five Canadian firms for their superior performance-based 50 financial and operational metrics.…
By Damien Cassell, CPA and Morgan E. Mahaffey, JD The U.S. Department of Housing and Urban Development (HUD) continues to make it easier for developers and owners to use loan programs for LIHTC and Opportunity Zone projects. With announcements this year that promise easier facilitation and closing of FHA loans as well as incentives to develop projects in opportunity zone…
BIRMINGHAM, AL – Aug 5, 2019 – It is with tremendous excitement that we announce Kelli Winter as the new Partner in Charge of Audit and Assurance at Tidwell Group, LLC. She joins an industry-leading team of accounting professionals and brings the kind of expertise and professionalism that the valued clients of Tidwell Group have come to expect. We could…
BIRMINGHAM, AL – July 24, 2019– It is with great excitement that Tidwell Group, LLC announces Patty Azallion, William Brookshire, Damien Cassell, Andy Gantzer, Chris Ofat and Jeanne-Marie Smith as its newest partners. With these partnerships, Tidwell Group continues to increase the depth of its already impressive team of accounting professionals and further solidifies its position as one of the top…
WASHINGTON – June 25, 2019 – Legislators introduced a bipartisan bill, the Save Affordable Housing Act of 2019, which would significantly reduce the loss of thousands of Low-Income Housing Tax Credit (LIHTC) properties before the end of their affordability periods due to qualified contracts. The bill was introduced by Senators Ron Wyden (D-OR) and Todd Young (R-IN), with Senators Ben Cardin…
BIRMINGHAM, AL – MAY 6, 2019 – Tidwell Group is pleased to officially announce Joel T. McDowell, CPA as the Firm’s Birmingham Office Managing Partner. Joel has been performing in this role as part of the Firm’s leadership and will continue in that capacity as the Firm charges forward into the 2020s. A lead partner in the Firm’s leadership council…
BIRMINGHAM, AL – MAY 2, 2019 – Tidwell Group LLC is pleased to welcome Justin Heberling as its newest partner in the firm’s Birmingham office. Heberling’s 14 years of public and affordable housing accounting experience will help solidify Tidwell Group as the premier accounting firm in the affordable housing industry. “Justin brings an incredible work ethic and energy that will…
By: Kevin E. Allmandinger, CPA and Bart W. Parry, CPA With heightened accountability and state agencies increasing oversight in an effort to mitigate fraud risk, General Contractor Cost Certifications (GCCCs) for low-income housing projects are becoming increasingly important. General contractors must contend with inaccurate or incomplete accounting records, unpleasant and avoidable fire drills, and extra costs if they do not…
By: Joel T. McDowell, CPA, Quinn Gormley and Morgan E. Mahaffey, JD Many states have enacted tax incentives similar to the Federal General Business Credits[1]or the Low Income Housing Tax Credit. Specifics differ between states, but generally these “State Tax Credits” can be classified either as transferable or allocated tax credits. Transferable credits bifurcate the benefits of the credit from the actual ownership…
By: Jeremy Densmore While a number of state agencies are starting to adopt Income Averaging (IA)[1] policies, there is still speculation on what the future IRS guidance will be. Recent industry articles have provided some speculative insight outlining common approaches for interpreting the IA amendment to the code. However, in the midst of all the opportunities that IA provides, the…
Not-for-profit entities (NFPs) should be aware that ASU 2016-14 is required to be implemented for the year ended December 31, 2018, and the changes in this standard will have a significant impact on the presentation of NFP entity financial statements. While Tidwell Group provided an introductory article containing timely guidance regarding ASU 2016-14, Chris Bailey and Patty Azallion, Tidwell Group…
By: Quinn Gormley On October 22nd HUD announced via Federal Register Vol. 83 No. 204, designated Qualified Census Tracts (QCTs) and Difficult to Develop Areas (DDAs) for 2019. The QCT and DDA is an important means for many of these areas in the production of affordable housing under the Housing Tax Credit Program (IRC §42), especially for developments that plan to…
By Morgan E. Mahaffey, JD and Joseph A Wallace, CPA The reduction in corporates rates coupled with a broadening of the tax base is a major shift in tax policy. While it may take several months to sort through the implications of the mid-term elections and policy changes from Congress, there is no doubt this piece of legislation will have a significant…
BIRMINGHAM, Ala (Oct. 26, 2018) — Tidwell Group, LLC, one of the nation’s fastest growing accounting firms, with offices in Alabama, Georgia, Texas and Ohio, announced today the launch of its newly designed website at https://www.TidwellGroup.com. The completely revamped website features a streamlined and simplified design, improved functionality and enriched real estate and affordable housing content areas. “We are thrilled to…
Tidwell Group has issued a follow-up to this article and can be found by clicking this link. “Income averaging (IA)” is the new kid on the Low Income Housing Tax Credit (LIHTC) block. However, while the new IA rules appear simple, they simply are not. The Consolidation Appropriations Act of 2018 ushered IA into the affordable housing (AH) arena with…
BIRMINGHAM, Ala. October 12th 2018 – Tidwell Group, LLC, one of the nation’s fastest growing accounting firms, with offices in Alabama, Georgia, Texas and Ohio, continues its goal of assembling the premier group of affordable housing professionals as it welcomes its newest partner Joseph Wallace, CPA. Among the skills that Wallace brings to Tidwell Group are his extensive knowledge of…
A Small Change Leads to Big Happiness BY SEAN HUTTON In recent years, many owners and management agents of properties in the Rural Development (RD) portfolio have clamored for updates to rather antiquated requirements for the projects’ replacement reserve accounts. RD has addressed these calls for policy change with their latest announcement. On September 28, 2018, the national RD office…
BIRMINGHAM, Ala., July 10, 2018 — Tidwell Group, one of the fastest growing CPA firms in the country, continues its expansion with the promotion of two new partners and a principal. Tidwell Group recognizes the talent, dedication and work ethic required to excel in the accounting industry and enthusiastically welcomes Jeremy Densmore and Wayne Jordan as its newest Partners and…
BY QUINN GORMLEY AND TODD FENTRESS A new Opportunity Zone program to encourage investment in low-income community business was included in the 2017 Tax Cuts and Jobs Act. New rules in the code[1] allows taxpayers to defer capital gains on the sale of stock, business assets, or any property (whether or not the asset sold was located or related to…
BIRMINGHAM, Ala., April 5, 2018 — Tidwell Group, the fastest growing CPA firm in the country per the 2017 INSIDE Public Accounting National Benchmarking Report, is proud to announce the addition of Quinn Gormley as a new Partner to join the team in its Austin, TX location. “Quinn will join one of the most talented, impressive and client centric teams…
Being homeless was never part of John’s life plan. But in a world where 58,000 veterans are homeless and an additional 1.4 million veterans are at risk of homelessness, his experience with affordable housing is not unique. Tidwell Group wanted to better understand the situation that so many people like John find themselves in, so they sat down with the…
2017’s fastest-growing CPA Firm, Tidwell Group, is proud to announce the opening of its Columbus, Ohio office. With this expansion into Columbus, Tidwell Group welcomes three new partners to their team. In January 2018, Todd Fentress, CPA, joined Tidwell Group as the Office Managing Partner. Todd’s addition to the team brings a level of expertise in the affordable housing industry…
This week, Congress passed the first major tax overhaul in years. Tidwell Group has analyzed the tax provisions to share insight on how some tax provisions may impact its clients. Taxpayers will be able to deduct 100% of the cost of qualified property placed in service after 9/27/2017. However, with tax rates decreasing starting on 1/1/18, tax deductions will have…
There is a stark upward trend in the aging of affordable housing properties and it does not appear to be tapering anytime soon. In fact, aging housing inventory is on the rise and has continued to increase year-over-year with a peak expected in the year 2024. This trend provides opportunities for affordable housing developers. Tidwell Group shares insight on how…
In an effort to assist taxpayers and raise revenue, Ohio recently announced a new tax amnesty program that will open January 1, 2018 and will run through February 15, 2018. If you have unreported or underreported taxes that were due and payable as of May 1, 2017, and you have not received a billing notice or tax assessment from the…
On November 2nd, the Tax Cuts and Jobs Act introduced in the House of Representatives proposes the elimination of the Bond Program and the effective elimination of the 4% Housing Credit. We cannot overstate the vital role these programs play in building and preserving affordable housing throughout the nation. While the proposed House Tax Reform Bill appears to retain the much…
Hurricanes Maria, Harvey, and Irma took lives and pummeled the economies of the affected areas. The impact of these natural disasters could extend to Low Income Housing Credit (LIHTC) projects if the proper measures are not taken within a specified time to ensure that projects meet development benchmarks or if affordable housing properties that are damaged by natural disasters are…
Are you aware of the potential tax refunds, accelerated tax deductions and low equity requirements that HUD-insured projects may provide developers? If not, you may be missing out on an aspect of the real estate industry that can provide significant rewards. According to Josh Northcutt, a partner with Tidwell Group, (more…)
2017 has already proven to be a destructive hurricane season for America, and it isn’t over yet. Hurricane Maria is currently a very strong category 4 storm and just wreaked havoc on the Caribbean Island of Dominica and now has its sights set on Puerto Rico. Puerto Rico’s governor Ricardo Rosselló has already declared a state of emergency and President…
As a reminder for all of our friends and clients with properties in Texas, the Texas Department of Housing and Community Affairs (“TDHCA”) rules require notification of a casualty loss within 30 days of the event. If your multifamily rental property sustained damage from Hurricane Harvey, there is a “Property Damage from Hurricane Harvey” form required to be completed no…
We are excited to announce that as of September 5, 2017, we have opened our doors at our new Atlanta location in more spacious and modern surroundings. The new location is more suitable for meetings, ample room for our continued growth and is more accessible to employees. (more…)
You may be eligible for hundreds of thousands in tax credits. In addition to low-income and historic tax credits, many developers are finding out the Section 45L (energy efficiency) tax credits can save hundreds of thousands, even millions, on new residential and mixed-use projects. Case Study: A client recently completed an apartment complex renovation project made up of 330 units.…
At Tidwell Group, we value and embrace the opportunity to have interns in our Tax and Audit departments each year. Each intern brings unique skills and abilities to our team and we are so thankful for their commitment to learning and growing alongside our staff. Take a look at what our past interns have thought about their experience at Tidwell…
Several Accounting Standards Updates (“ASU” or “ASU’s”) issued by the Financial Accounting Standards Board (“FASB”) became effective January 1, 2016. Many of these updates, which are now part of the Codification, will have a direct impact on the accounting and financial reporting of private real estate companies in 2016; whereas, a lot of them will not. The following is a…
Tidwell Group, one of the nation’s fastest growing accounting and consulting firms, has taken another exciting step in its expansion with the promotion of three new partners in its audit, tax, and consulting groups. “Each of these individuals has proven able to consistently provide value and solutions to our growing client base,” said J. Barry Tidwell, Tidwell Group National…
Overview In response to feedback from the Financial Accounting Standards Board’s (FASB) Not-for-Profit Advisory Committee (NAC) and other stakeholders on existing standards for financial statements of not-for-profit entities (NFP), the FASB issued ASU 2016-14 in August 2016, which is the first of two phases the FASB has undertaken to improve the accounting and financial reporting of NFP’s. The over-arching purpose…
