Posts Categorized: Taxes

Detroit to Receive $6M in Tax Credits for Low-Income Housing

Good news for affordable housing advocates in our area: on July 22, Michigan Governor Gretchen Whitmer and Detroit Mayor Mike Duggan announced that Detroit will receive over $6 million in tax credits for low-income housing. The credits will help finance more than $100 million in housing investments. The Michigan State Housing Development Authority (MSHDA) has… Read more »

Detroit May Require Annual Tenant Rosters From Landlords

In hopes of identifying income-tax evaders, Detroit officials are considering the passage of a new law which would compel landlords to hand over their tenant rosters to the city’s tax compliance branch each year. The proposed regulation would reportedly be focused on rental properties in Downtown and Midtown Detroit with monthly rental rates of $750… Read more »

Detroit Offers Tax Breaks to Affordable Housing Developers

In recent years, it’s become fairly common to hear local officials and journalists talk about the idea of a “renaissance” in Detroit. It’s true that downtown Detroit is undergoing some very positive changes, but sometimes urban renewal can have unintended negative consequences on a city’s most vulnerable residents.  In San Francisco, for example, rapid commercial… Read more »

Preparing Your Properties for the End of the Year

If you are a landlord or a property manager in Michigan, there are a series of steps that you should take at the end of every year to ensure that you don’t lose out on any money as you head into the new year. By squaring away old debts with your tenants and learning about… Read more »

Year-End Wrap Up: What Records to Get in Order Now

Tax time comes around every April, and with 2015 now drawn to a close, it’s never too early to start preparing forms and documents as a landlord. There are two types of records you must have for tax purposes: a record of your rental income and expenses as well as supporting documents for them. Did… Read more »