From the subprime mortgage crisis to the ongoing collapse of homebuilding, the construction and real estate industry has been badly shaken, eroding builder and lender confidence. The entire sector continues to be in flux, although projects are beginning to move again, albeit with more realistic expectations. Access to capital, tightened lending standards, and a still-sluggish economy continue to challenge even the most dynamic of firms.
At Grant Thornton, we understand the nuts and bolts of the construction, real estate and hospitality businesses. We provide accounting, tax and business advisory services to help you safeguard your assets and meet your business objectives.
Our professionals' extensive real estate valuation experience, coupled with their involvement in some of the largest corporate restructurings in the country, gives them the breadth and depth of experience to help bring about the best possible results for clients. We offer a comprehensive suite of services, including accounting and tax, forensic accounting, restructuring, valuation, investment banking, and litigation support. Whether your firm is a property owner, a developer, a property management firm, or REIT, turn to us for the experience you need to grow your business.
Interested in seeing how we've helped a client grow?
Situation: The company needed to beyond organic growth and ramp up acquisitions in order to achieve the scale that would allow them to thrive. Through our knowledge of the construction industry, we were able to help the client identify an acquisition target that was ready to come to the table and be part of a bigger, more successful company.
Result: We guided the client through a successful acquisition, and today both owner groups are thriving in the combined company.
Though many observers believe that the recession officially ended in the summer of 2009, most industries, including commercial real estate (CRE), continue to feel its effects. This article explores the weak fundamentals of the CRE industry.
Tip #1: Double bonus depreciation — full expensing! Lawmakers have extended and doubled bonus depreciation, allowing full expensing for many assets placed into service through 2011. Property qualifying for bonus depreciation that is placed in service after Sept. 8, 2010, and through the end of 2011 will be eligible for full 100% expensing.
Tip #2: Bring your health care plan into compliance with the Affordable Care Act (aka Health Care Reform). The health care reform bill ushered in a whole new set of requirements for employer sponsors of health care benefit plans. Proper planning will be important not only to avoid the penalties for noncompliance ($100 per day per participant) but also to ensure decisions on implementation keep you as competitive as possible.