News Topic: Minnesota Business

Mortgage and Finance News: (EGAN, Minn.) The IRS Large Business and International (LB&I) Division released an updated Practice Unit for its agents to audit the 179D Energy Efficient Commercial Buildings Deduction (179D Deduction), ICS Tax, LLC announced today. It confirms that taxpayers can use the ASHRAE Standard 90.1-2007 rather than newer, more strict standards but also could be an indication that the IRS will have added scrutiny on 179D projects.

Mortgage and Finance News: (MINNEAPOLIS, Minn.) innovosource will host its fifth annual COVERGENCE Summit from Oct. 20-21, 2022, at the University of Utah Rice-Eccles Stadium Club. The event gathers more than 60 university gap fund/accelerator programs (GAP) and potential commercial and investment partners to discuss best practices and review portfolios and investable projects and startups.

Mortgage and Finance News: (SAVAGE, Minn.) Choosing a tax consulting firm as a trusted advisor is an exceptionally important decision for both businesses needing such services as well as accounting firms who refer them to their clients, says ICS Tax, LLC.

Mortgage and Finance News: (DENVER, Colo.) ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, today announced the Minnesota Housing Finance Agency has selected ACES' flagship platform ACES Quality Management & Control® software to support its mortgage origination compliance and quality control (QC).

Mortgage and Finance News: (SAVAGE, Minn.) In 2007, the IRS made the Research & Development (R&D) tax credit a Tier 1 issue, says ICS Tax, LLC (ICS). Tier 1 issues were those of high strategic importance that had a significant impact on one or more industries, essentially meaning that the IRS would audit taxpayers filing amended returns on such issues. To taxpayers' relief, the Tiered Issue Process was eliminated in 2012, effectively placing the R&D tax credit in the same audit pool as other issues.

Mortgage and Finance News: (SAVAGE, Minn.) Travis Mlodzik, Central Practice Leader for ICS Tax, LLC has been elected President of the American Society of Cost Segregation Professionals (ASCSP). Cost Segregation is a tremendously valuable tax planning strategy for real estate investors. The ASCSP provides education, credentialing, and a code of ethics for its members while representing the very best professionals in the cost segregation industry.

Mortgage and Finance News: (MINNEAPOLIS, Minn.) MedCraft Investment Partners has partnered with Pereview Software to support its growing medical office buildings (MOB) and ambulatory care portfolio and data strategy.

Mortgage and Finance News: (BLAINE, Minn.) The 'Growing Renewable Energy and Efficiency Now' (GREEN) Act aims to extend and boost tax incentives for energy efficiency and renewable energy. According to Alex Bagne, the President of ICS Tax, LLC, "If passed, the GREEN Act would make both the 45L Energy Efficient Home Credit (45L Credit) and the 179D Energy Efficient Commercial Building Deduction (179D Deduction) more advantageous while furthering the green missions of these incentives."

Mortgage and Finance News: (MINNEAPOLIS, Minn.) The Association for Black Economic Power (ABEP) is reaffirming its commitment to bringing a black owned and operated Credit Union to North Minneapolis.

Mortgage and Finance News: (NEW BRIGHTON, Minn.) According to Guardian Property Management, now is the ideal time for property investors and owners to hire a property management company to help them manage their investments.

Mortgage and Finance News: (MINNEAPOLIS, Minn.) CityView Commercial and Jacobs Real Estate, led by Jack Friedler and Sholom Jacobs, have successfully closed on 651 Nicollet Mall which is part of Gaviidae Commons, a 443,000 SF mixed use office and retail complex in Downtown Minneapolis.

Mortgage and Finance News: (ARDEN HILLS, Minn.) Catholic United Financial, the oldest fraternal benefit society domiciled in Minnesota and one of the longest continually operating businesses in the state, has announced that for the first time in the company's 141-year history, its total assets have exceeded one billion dollars.