Senator Denny Hoskins, CPA, has joined Tidwell Group, an INSIDE Public Accounting (IPA) Best of the Best Firm for 2020, as a Consulting Manager. With over 22 years of accounting experience, he will be a tremendous asset to the firm’s leadership team in the Birmingham office while working remotely in Warrensburg,…
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…
Birmingham, AL – August 27, 2020 — Tidwell Group is pleased to announce that Debbie Dancy will be joining the team as our National Director of Special Projects! We couldn’t be more excited to have Debbie join our team and look forward to the exciting progress her involvement will undoubtedly promote.…
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…
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…
By Barry Tidwell 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…
personal brand advocacy
By: Robert Boot Everyone approaches the concept of self-promotion differently. Some people consider self-promotion arrogance, while others view it as a necessary part of building an effective career. Fortunately, a compromise exists… a powerful strategy referred to as “Personal Branding.” (more…)
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…
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,…
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…)
qualified contracts
Read about the Qualified Contract process and why the pricing calculation can help determine whether or not to seek early release from IRC Section 42 compliance. By: Amie Gray and Jeremy Densmore (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…
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…
Pablo Picasso once said, “The meaning of life is to find your gift. The purpose of life is to give it away.” This sentiment rings true for the employees of Tidwell Group. The Firm is vested in affordable housing beyond providing value-driven professional services to its clients through acts of…
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.…
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…
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…
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…
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…
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…
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…
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…
At Tidwell Group, we pride ourselves on providing unmatched opportunities for our experienced professionals to grow their careers. Each of the following individuals have dedicated themselves to growing the Tidwell Group brand and creating their own personal brand by making their name known inside our firm, among our clients and…
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…
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…
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.…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
When it comes to job satisfaction, the importance of finding a healthy balance between the rigors of full-time employment and the increasingly hectic personal schedules of career professionals . . .  particularly those of professional women, cannot be overstated!  In fact, a recent study showed that when companies do what…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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,…
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…
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…
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…
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…
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,…
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…
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…
Recent tax legislation extended the Energy Efficient Home Credit (45L). 45L is a $2,000 federal tax credit per free-standing home, per townhouse and per apartment where units and apartment buildings are three stories or less above ground. There is a $1,000 federal tax credit available per manufactured home. Properties must…
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