Welcome to our Real Estate & Construction Accounting Blog!

We’re committed to bringing you a regular dose of accounting goodness, geared towards your industry. But before you dive in, here is a little of the who, what, where, why and when regarding this blog.

  • Who we are – at DiSanto Priest we recognize the need for specialization in the accounting industry. Real Estate & Construction is one of seven industries that we have identified as focus areas for our firm. Our other industry focuses include Cannabis, Commercial Fishing, Manufacturing, Distribution and Retail, Precious Metals, Professional Services, and Technology. As with many of our clients, your real estate or construction-driven business may cross over into our other verticals so be sure to sign up for those industry updates as well by viewing their respective pages.
  • What we’re doing – our goal with this blog is to bring you timely accounting information that is relevant to your business.
  • Where – whether you’re at your desk or on the road, our online content is downloadable as well as mobile-enabled to allow you access wherever you need it.
  • Why we’re doing it – we’re in the information age. You need information and you need it now. As your trusted advisor we’re in the best position to provide you with the latest and greatest of the accounting industry. We want to do it in a way that allows you to gain an understanding of a topic and empowers you to take action.
  • When – we update our blog monthly. Stay tuned!
Mitigating Risks and Costs in the Construction Industry During Uncertain Times
As the pandemic continues, construction companies should take various steps to mitigate risks and costs while adhering to new compliance mandates.
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Can Your Business Benefit from the Work Opportunity Tax Credit?
There has never been a better time for businesses to determine their eligibility for the employment-based Work Opportunity Tax Credit (WOTC).
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Step-up in Basis in Real Estate
A step-up in basis is the readjustment of the value of an appreciated asset, such as real estate, for income tax purposes upon inheritance.
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1031 Exchange – Is It Right for You?
Do you own a piece of real estate whose fair market value is greater than its basis?  Are you contemplating selling and buying another? A 1031 Exchange may be for you! If you are contemplating a like-kind exchange, at Disanto, Priest & Co. we would be more than happy to assist you.
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Physical Presence No Longer Required for Sales Tax
In a 5 - 4 decision, the Supreme Court ruled in favor of state authority to require online retailers to collect sales taxes without regard to physical presence in the state. Although states stand to gain much-needed tax revenues, there may be consequences for online retailers that do business in multiple states.
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Taking Control of SOC Report Requests & Distribution
One of the ways firms and their business clients are utilizing a clearinghouse is for SOC report distribution – a process that is becoming more challenging to manage as an increased focus on third-party controls has led to a rise in requests for reports.
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Authenticated Financial Information
There is growing demand today for accurate, authenticated financial information. While technology has positively impacted the speed and accessibility of information, it has also created new ways to alter and compromise information.  
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How to Assess Your Company's Financial Health
We receive regular checkups to monitor, maintain, and improve our health. But did you know that you should do the same for your company?
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The Importance of Strategic Planning
Is your company future ready? We are living in a time of rapid change around the world. Consider a Strategic Planning Engagement to ensure success.
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New Year and New Tax Laws Bring Change to Estates and Gifts
As we continue to welcome in the first quarter of 2018 and the new tax bill, let's take a quick look at what has changed and what remains the same.
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Tax Reform Highlights Affecting Real Estate and Construction Taxpayers
President Donald Trump signed into law the Tax Cuts and Jobs Act (TCJA), the most significant tax law overhaul in 31 years. Read some highlights here.
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Property Management
SALT, (State and Local Taxes), has become a familiar term for business owners that operate in multiple states; however, taxes are not the only area of compliance that businesses that operate over state borders need to be concerned with.
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Is Your Business' Workforce on the Move?
Many companies are expanding their business transactions across state borders and finding themselves operating with a mobile workforce.  With many states aggressively attempting to find ways to close their budget deficits, these expanding companies become a means of generating new sources of revenues.
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Do You Qualify for the Rebuild Rhode Island Tax Credit?
Do you have a real estate project that is not able to raise sufficient funding? Do you have a project at risk of having to relocate to another state? Rebuild Rhode Island may be the answer! The Rhode Island Commerce Corporation, through the Rebuild Rhode Island Tax Credit Act, can provide incentives such as tax credits, loans or equity investments to eligible Projects!
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179D – The Energy Efficient Commercial Building Deduction
The section 179D tax deduction was passed by Congress in 2005 as part of the Energy Policy Act.  It allows qualifying building owners and businesses to receive a tax deduction of up to $1.80 per square foot for their energy efficient buildings or significant improvements placed in service during all open tax years.
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One More Reason to Expand your Tech Business in Rhode Island
Are you currently operating a business in Rhode Island and looking to expand?  Perhaps you have a business outside of RI that you’re looking to relocate.   Rhode Island, in an effort to attract and retain new and existing businesses, enacted the New Qualified Jobs Incentive Act in 2015 and has already awarded several job creators significant annual, redeemable tax credits that have allowed them to make expanding or relocating to RI more financially feasible. 
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