'There is definite and clear economic benefit of investing in historic properties for renovation other than the tax benefits, but the tax benefits are incredible,' says Drew Miles, President and founder of Pathfinder Business Strategies.
Sebastian, FL (PRWEB) December 13, 2013
During the past 36 years the Federal Historic Preservation Tax Incentive Program has proven to be a powerful financial rejuvenator to many formerly forgotten communities. And while the tax act has created much needed housing, jobs, and revenues for cities across the country, it also provides interesting if not unique opportunities for investors who see the value of participating in preserving iconic properties of small town Americana – from banks and gas stations, to movie theatres, schools, warehouses, factories and other commercial properties, while taking advantage of the tax credits available to investors who participate in historic property renovation and acquisition projects.
Pathfinder Business Strategies, (http://www.TaxSavingProfessionals.com) a tax consulting company who has helped more than 7,000 clients across the country save an estimated more than half a billion dollars in taxes, has developed expertise and strategic partnerships that provides a vehicle for clients to invest in these unique development opportunities while taking advantage of tax credits offered by the Federal government for investors who participate in these historic property renovation partnership projects.
“There is no question that the federal historic tax credit, currently a 20% credit on the qualified rehabilitation costs, has had a profound impact on how historic buildings are viewed,” says Jonathan B. Jarvis, Director of the National Parks Service, under whose purview the program is administrated.
“There is definite and clear economic benefit of investing in these properties, other than the tax benefits, but the tax benefits are incredible,” says Drew Miles, President and founder of Pathfinder Business Strategies. “Our partners carefully choose and acquire real estate where the market, rents and cash flows are predictable and assured,” says Miles, a tax attorney, entrepreneur, author and lecturer who founded the company in 1998. Miles points out that residual cash flows, as well as deductions, from the income producing property pass through to the investor at the investor’s proportionate share of ownership in a project.
The Investor purchases a partial or incremental owner of the L.L.C. that owns a revenue producing asset which is the commercial building. The operating agreement defines a promised Preferred Investor Return as a percentage of Invested Dollars before any proportionate share of profits and residual cash flows are distributed amongst the partners. A “Should” Level Tax Opinion is provided to the invested entity ensuring the validity of the partner structure along with the correctness of any tax positions taken.
Download Your Copy Now: A 22-Page Federal Government PDF Document 35- Year Retrospective of Historic Building Restoration
In 2012, the Federal Historic Tax Incentives Program celebrated its 35th Anniversary. Since being legislated by Congress in 1977, it has generated more than $66 billion in private investment in the rehabilitation of historic buildings, involving more than 40,000 properties across the country. In recognition of the exceptional success of the program, the Federal government produced a 22 page retrospective of the program, including case studies and highlights of benefits and advantages to communities and the companies who participate in historic property renovation and rehabilitation.
Download Your Copy Now; Click Link: http://bit.ly/1kGqCNY
About Pathfinder Business Strategies
Since 1998 Pathfinder Business Strategies (http://www.TaxSavingProfessionals.com) has helped more than 7,000 clients nationally save more than half-a-billion dollars in taxes. The average American pays 31% in taxes, the average Pathfinder clients pays 15% in taxes. Founded by tax attorney Drew Miles, Drew spent more than 6 years pouring over the IRS tax codes seeking ways in which he could reduce his own personal taxes. The majority of tax professionals regularly use between 15 and 20 tax strategies to help clients reduce their taxes. Pathfinder utilizes more than 400 rarely used, misunderstood or simply unknown tax strategies by the majority of tax professionals. These strategies were developed by Drew along with a team of tax lawyer’s and CPAs, including a former IRS Revenue Officer, as well as a former prosecutor with the Department of Justice with a 100% conviction rate. Not one of Pathfinders tax saving strategies has ever been overturned by the IRS. Pathfinder Business Strategies achieves this through record keeping and documentation combined with diligent compliance for provisions in the tax code by our Paralegals and Tax Pros - CPA’s, Attorneys and Enrolled agents. Drew Miles is an accomplished entrepreneur, author and lecturer.