Our experience in affordable housing allows us to successfully navigate the sea of complex issues surrounding the affordable housing industry. Our services are based on a comprehensive knowledge and broad experience with complex accounting and tax issues. We offer a full spectrum of audit, accounting, tax compliance, tax consulting and preparation services.

Each year EFPR Group conducts more than 90 HUD compliance audits for both for-profit and not-for-profit clients receiving funding from United States Housing and Urban Development (HUD). Clients range from small sole proprietorships to large entities with complex accounting issues.

Our consulting services include assistance and analysis of low-income housing, historic tax credits, tax-exempt bond applications, financial forecasts, development and operating income statement preparation. EFPR Group currently services more than 400 Affordable Housing clients.

Accounting Services

• Annual financial statement audits
• 10% carryover allocations
• Cost certifications
• Eligible basis calculations
• Tenant file testing
• Tax exempt bond financing application including NYS 95-5 bond application and calculations
• LIHTC applications
• Debt service coverage ratio analyses
• Break-even analyses
• Historic tax credits
• HUD electronic filings
• Valuation consulting
• Litigation support and expert witness testimonies

Tax Consulting Specialty Services

• Financial forecasting and ROI analysis
• Arbitrage calculations
• Qualified contract calculations
• Tax capital basis analyses
• Purchase price allocations
• Quarterly tax estimate
• Cost segregation studies
• Exit tax strategies and calculations
• 704(b) capital accounting

Investor Relations and Consulting

• Capital adjuster and break-even analyses
• Property compliance reporting
• Forensic accounting and litigation support
• Due diligence reviews
• Structure tax credit acquisitions
• Assistance in financing
• Consulting regarding workouts for troubled properties
• Market and portfolio performance analyses