Joseph Wallace, CPA
Affordable Housing | Tax Partner | Helping developers and syndicators achieve profitable growth
Who I work with
I work with professionals at every level of the Affordable Housing industry, from small developers to syndicators. I have helped many real estate developers and syndicators navigate tax and accounting challenges to achieve profitable growth and successful exits.
My specialty
I have 22+ years of Affordable Housing experience and have helped clients work through the entire Affordable Housing deal lifecycle, from inception to investor exit and resyndication. My specialties include partnership taxation, structuring year-15 exits and Excel financial modeling. I have significant experience advising clients on the Low-Income Housing Tax Credit (LIHTC) and Investment Tax Credits, including Historic and Solar Tax Credits.
Results I have delivered
There are several ways we can deliver tax benefits to developers when a project is placed in service, often with minimal effect on credit pricing. 45L credits can be specially allocated to the developer. Deferring credits for a year combined with cost segregation can allow a developer to take millions of depreciation losses when a project is placed in service.
Unique things about me
I have taken over 100 cooking classes and love to cook for others. I once hosted a six-course meal for my old tax department.
When I am not at work
My hobbies include reading, cooking and listening to audiobooks. I also enjoy playing with my four kids, who often like to “help” me cook.
People say I am
A knowledgeable, solution-focused teacher
Affiliations
I earned both my Masters and Bachelor of Science degrees in Accounting from Wake Forest University. I have passed the Certified Financial Planner™ exam. I am a member of the American Institute of Certified Public Accountants (AICPA) and Alabama CPA Association and serve on the Wake Forest University Accounting Advisory Council.