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Kaplan Financial Education to Present Free Webcast on the CARES Act – COVID-19 Tax Provisions

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Edward Zollars, CPA and instructor at Kaplan Financial Education, will lead a free webcast on the CARES Act – COVID-19 Tax Provisions on April 3, 2020 from 12-1pm CDT.

The webcast, which will deliver 1.0 CPE, will cover the third coronavirus bill passed by Congress containing numerous provisions related to COVID-19 relief, including a number of tax provisions. This session will look at tax-related provisions in the provision, including:

  • Payments to individual taxpayers, with phase-out for higher income taxpayers;
  • Special rules for distributions from retirement plans related to COVID-19, extended rollover rules and expansion of maximum borrowing from employer plans;
  • Delay in required minimum distributions;
  • Ability to delay deposit of employer portion of payroll taxes for 2020, with amounts paid over two years;
  • Fix for the “retail glitch” related to qualified improvement;
  • Temporary restoration of net operating loss carrybacks, along with other modifications of NOL and business loss rules.

Edward Zollars, CPA, licensed as a CPA in Arizona, is in public practice in Phoenix, Arizona, as a partner with the firm of Thomas, Zollars & Lynch, Ltd. He has been in practice for over 35 years, specializing in tax issues for closely held businesses and individuals.

Ed has been professionally involved with both tax and technology issues, combining the two disciplines in producing the Current Federal Tax Development Update podcast and website, dealing with current tax issues. He has been a member of AICPA Tax Division Committees, dealing with tax and technology issues, and was the Tax Sections representative on three occasions to the AICPAs Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshops Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs. Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010.

For more information, go to Kaplan Financial Education.

About Kaplan Professional

Kaplan Professionala division of Kaplan, Inc. is a leading provider of training and education services operating in more than 30 countries and working with over 10,000 corporations and businesses globally. Kaplan Professional helps professionals obtain certifications, licensure, and designations that enable them to advance and succeed in their careers. Kaplan Professional partners with organizations to solve their talent management challenges through customized corporate learning and development solutions. Through live and online instruction, Kaplan Professional provides test preparation, licensing, continuing education, and professional development programs to businesses and individuals in the accounting, insurance, securities, real estate, financial, wealth management, engineering, and architecture industries. Kaplan, Inc. is part of the Graham Holdings Company (NYSE: GHC).

John Vita

John Steven Vita Communications

[email protected]

847/853-8283

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Lument Provides $21.5 Million in Freddie Mac Financing for Affordable Housing in El Paso

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NEW YORK, Dec. 2, 2020 /PRNewswire/ — Lument, a national leader in commercial real estate finance,   announced today that it provided a $21.5 million Freddie Mac unfunded forward commitment loan to facilitate the substantial renovation of Jackie Robinson Memorial Apartments, an affordable multifamily property in El Paso, Texas.  Lument is the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group.

“By combining the Freddie Mac unfunded forward loan with tax credit equity and other soft funding sources, we were able to put in place an attractive debt structure to help improve these much-needed affordable apartments,” said Josh Reiss, director at Lument.

Originally built in 1975, Jackie Robinson is a 186-unit, 4% low-income housing tax credit (LIHTC) community in the Housing Authority of the City of El Paso (HACEP) portfolio. As part of the transaction, the property will receive Section 8 assistance that will facilitate the conversion to long-term, project-based voucher (PBV) rental assistance. Subsequently, all 186 units will be restricted to tenants earning income at or below 60% area median income (AMI).

The $21.5 million Freddie Mac loan features a low, fixed interest rate, 18-year term with three years of interest only, and a 35-year amortization schedule. The forward commitment term will be 30 months with one six-month extension.

Jackie Robinson will undergo substantial interior and exterior construction, including a gut renovation of all residential units, from new drywall to new kitchen appliances. In addition, exteriors will be improved with new windows and doors, repaired or replaced roofs, and new stair towers.

Construction began in October 2020 and is expected to be complete within 24 months.

Mr. Reiss and the Lument team have financed over 960 units in partnership with HACEP, totaling $41 million. Since 2015, the team has financed over $565 million in RAD transactions for a total of approximately 6,500 units.

About Lument
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, investment banking, and investment management solutions. Lument has approximately 600 employees in over 25 offices across the United States. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities. Member FINRA/SIPC. For more information, visit www.lument.com.

MEDIA CONTACT                                                                                                           
Michael Ratliff | Marketing Director
212-588-2163 | [email protected]

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SOURCE Lument

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Most Americans Ill-Equipped in Financial Retirement Planning: MoneyRates Survey

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FOSTER CITY, Calif., Dec. 2, 2020 /PRNewswire/ — Many Americans may be steering the Titanic without a map when it comes to retirement finances. A new MoneyRates.com survey finds a significant portion of the population understands very little about retirement planning and lacks essential information to make the right moves.  

The personal finance website polled 1,000 Americans who are either within 20 years of retirement age or have already reached that age. The results reveal roughly two-thirds of respondents haven't made any kind of projection of how their savings will hold up in retirement.

“A person's savings is a basic building block of retirement planning,” remarks Richard Barrington, MoneyRates' senior financial analyst and author of the survey. “One needn't be a financial expert to take control of retirement planning. People should take the initiative to get the help they need to feel comfortable with their retirement plan.”

Find the full study here: Investor Aptitude: Are You Ready to Manage Your Retirement Finances?

Key survey findings:

  • Most respondents (54.90%) haven't formulated a monthly budget for what they could afford to spend in retirement.
  • About one in four (25.80%) expect their retirement savings would last less than five years.
  • Nearly a quarter (23.10%) say if their retirement savings fall short, they'd simply go back to work again.
  • While just 20.95% of people who haven't started collecting Social Security intend to begin taking those benefits at age 62, well over twice as many – 49.28% – of those who had begun collecting Social Security did so at age 62.
  • A third of survey respondents (33.30%) admit they do not know much about retirement planning concepts.
  • Of the respondents who own stocks, more than a quarter (26.86%) don't know what percentage of their retirement savings those stocks represent.

“Stocks are the riskiest of all investments people own,” adds Barrington, “so it's rather shocking that roughly a quarter of those responding to our survey don't know how much they own in stocks.”

Since these survey results make it clear that many Americans need help with retirement planning decisions, MoneyRates suggests consumers use its resources, such as a retirement savings calculator and a guide on understanding robo advisors for assistance.

Methodology

MoneyRates commissioned a survey of 1,000 people, half aged 65 or above and half between the ages of 45 and 64. Thus, half of respondents had reached the traditional retirement age and half were within 20 years of reaching that age. Questions were designed to explore key retirement-planning decisions people face before and after they retire.

Barrington is available for interviews and can discuss this survey and many other issues related to personal finance.

About MoneyRates

MoneyRates is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance marketplace technologies and services to the financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. MoneyRates is a member of QuinStreet's expert Research and Publishing Division.

Since 1998, MoneyRates has served as a personal finance resource designed to help readers make the most of their money. In addition to a variety of financial calculators, MoneyRates.com researches and tracks CD, savings, and money market rates offered from over 400 financial institutions across the country to offer expert advice on banking, investing and retirement planning.

Twitter: @MoneyRates
Facebook: www.facebook.com/MoneyRatesdotcom

Media contact

Charlene Arsenault
Media Outreach Specialist
[email protected]
Direct +1-508-832-8918
LinkedIn

 

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SOURCE MoneyRates.com

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IPC Partners with Greenprint Capital to expand the Solar PPA offer throughout the United States

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ROCKY HILL, Conn., Dec. 2, 2020 /PRNewswire-PRWeb/ — Inclusive Prosperity Capital, Inc. (IPC), a mission-driven specialty finance organization working at the intersection of community development, clean energy finance, and climate impact is pleased to announce the closing of a tax equity partnership with San Diego-based Greenprint Capital, as well as a debt facility with the Connecticut Green Bank. Having launched these two partnerships, IPC is now able to acquire, develop, construct, and operate distributed solar projects throughout the United States. IPC's solar Power Purchase Agreement (PPA) provides direct financial savings to customers in underserved markets – small-scale commercial properties, houses of worship, affordable multifamily housing, and non-profits. IPC can be flexible to accommodate most commercial or community-scale customers.

“Launching a solar PPA platform has been a major component of IPC's strategy since our formation in 2018. Building on the many years in which our staff supported the Connecticut Green Bank's solar PPA program in Connecticut, IPC is well-positioned to deliver energy-saving solar PPAs to customers who might otherwise be overlooked by traditional financiers. We are thrilled to be partnering with Greenprint Capital and Connecticut Green Bank to achieve this major milestone in IPC's growth,” said Kerry O'Neill, IPC's Chief Executive Officer.

IPC's first four solar projects are in Connecticut, acquired from the Connecticut Green Bank, and include two schools, an Islamic center and a Boys and Girls Club. The projects total 495 kW and are anticipated to save the customers approximately $20,000 in their first year of operation. IPC's first four solar customers include:

  • Boys and Girls Club of the Lower Naugatuck Valley – 127 kW Rooftop Project
  • Bridgeport Islamic Community Center – 75 kW Rooftop Project
  • The Country School – 107 kW Rooftop Project
  • Washington Montessori School – 186 kW Rooftop Project

Bert Hunter, Connecticut Green Bank's Chief Investment Officer noted, “IPC will be one of our key partners in continuing to serve the Connecticut solar market. With this latest round of financing, we are confident IPC has the tools needed to manage the solar PPA partnership throughout the state of Connecticut and beyond. We are eager to see IPC replicate and expand upon the success the Connecticut Green Bank has had in creatively de-risking projects to provide access to previously credit-challenged potential solar customers.”

Antoine Bishara, Principal at Greenprint Capital, said, “IPC's focus on de-risking solar projects in underserved markets is a great fit for Greenprint's approach to tax equity investment. We see Greenprint's role in the market as leveraging our efficiency to lower financing costs and unlock the small and medium scale distributed solar market for tax investors. That efficiency is even more important when it results in lower PPA prices for important community organizations like IPC's customers.”

John D'Agostino, Director of Financing Programs at IPC said, “we are very excited about our first four projects in Connecticut and are grateful for the opportunity to serve four organizations whose missions align with our own. The Solar PPA projects will help these customers continue to provide a wide array of services to their communities. Greenprint's nimble and efficient approach to tax equity financing is a major reason we're able to make this possible. This partnership will allow IPC to provide financing solutions to commercial and community solar developers as well as energy savings to their customers. We hope to remain long-term partners and bring the success we've achieved with Greenprint in Connecticut to IPC's pipeline of solar projects throughout the country.”

About Greenprint Capital:
Greenprint is a professional advisory and consulting firm focused on structured tax credit and preferred equity investments in renewable energy projects. Greenprint and its financial partners invest in and support infrastructure development activities and seeks to serve all stakeholders involved

About the Connecticut Green Bank:
The Connecticut Green Bank was established by the Connecticut General Assembly on July 1, 2011 as a part of Public Act 11-80. As the nation's first full-scale green bank, its mission is to confront climate change and provide all of society a healthier, more prosperous future by increasing and accelerating the flow of private capital into markets that energize the green economy. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and innovation for their “Sparking the Green Bank Movement” entry. For more information about the Connecticut Green Bank, please visit http://www.ctgreenbank.com.

About Inclusive Prosperity Capital:
Inclusive Prosperity Capital, Inc. (“IPC”) is a not-for-profit investment fund scaling clean energy financing solutions that channels investment capital to program partners in communities that need it most. As a spin-out and strategic partner of the Connecticut Green Bank, IPC is focused on scaling its work in Connecticut and expanding its successful model nationwide by accessing mission-driven capital and partnerships. IPC operates at the intersection of community development, clean energy finance, and climate impact. We believe everyone should have access to the benefits of clean energy, helping to deliver Inclusive Prosperity.

Media Contact

Madeline Priest, Inclusive Prosperity Capital, +1 860-257-2891, [email protected]

 

SOURCE Inclusive Prosperity Capital

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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