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Posted: December 31, 2024
2024 Year in Review: Robert Logan, CPA, TFG Accounting and Tax New York, LLC
Director
TFG Accounting and Tax New York, LLC
What noteworthy transactions or deals from this year best exemplified key market trends or shifts?
High interest rates, inflation, and cost increases across the board affected all our clients, especially those in real estate management and development, architecture, construction, etc. We spent most of the year assisting them in reducing expenses and designing aggressive tax saving strategies. Whether Cost Segregation, R&D Tax Credits, 179D Tax Incentives, Energy Efficient Tax Credits, or 1031 Exchanges (to name a few), we found ways to help real estate professionals across the industry put more profit in their pocket.
What emerging trends will drive investment and development in 2025?
The country is waiting to see what the new administration will bring to the table, and if Congress will extend the TCJA cuts for business and individuals before they sunset in 2025. Technology enhancements with AI will make most businesses more efficient, green incentives will make them more environmentally friendly, and reduced tax liabilities will make them more profitable. Reuse, re-purpose, refinance, and a return to the office should provide some relief for the commercial market. We are looking to help clients optimize their returns on investment and seize new opportunities for growth and profitability as the New York economy adjusts to new realities.
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