At Sorren, we empower clients supporting affordable housing to access valuable tax credits and improve their financial performance. Through our expert advice and support, we help you overcome the unique challenges of the affordable housing industry, ensuring financial accuracy and compliance with even the most complex regulations.
Navigating the realm of affordable housing is no small feat. Between rising construction costs, fluctuating credit equity prices, and the evolving demands of investors, business planning can quickly become overwhelming. Our seasoned team works as your strategic partner from initial structuring through the end of compliance—anticipating opportunities, navigating requirements, and positioning you for long-term success. With Sorren, you gain more than a CPA or service provider; you gain a trusted ally committed to your financial clarity and operational resilience.
Who We Serve
We work with a wide range of organizations involved in affordable housing, from deal structuring and cost certifications to exit planning and more. Our team understands the unique pressures of this industry and partners with you to keep projects moving forward and aligned with regulatory expectations.
For-profit and nonprofit teams focused on creating communities that are inclusive, sustainable, and financially accessible. We help you navigate tax credit planning while keeping your funding and timelines on track.
Local and regional authorities managing housing programs and community resources. We support your efforts to meet compliance requirements while delivering stable, safe housing options for those who need them most.
Private investors, funds, and syndicators supporting projects that fuel long-term community growth. We help you make sense of evolving tax credit rules so you can move forward with confidence and clarity.
We support the affordable housing industry with the tax credit expertise and compliance insight needed to move projects forward with confidence. Our team works with a wide range of credits, including Low-Income Housing Tax Credits (LIHTC), renewable energy, historic, new markets, 45L, and Qualified Opportunity Zones.
We understand the financial and regulatory pressures you face. That’s why we help you stay on track with tax filings, HUD compliance, annual REAC submissions, and audit requirements under both FASB and GASB. Whether you’re navigating funding applications or preparing for investor reviews, we bring clarity and structure to every step.
Assurance
Insightful assurance solutions that go beyond compliance to strengthen decision-making, improve efficiency, and support your growth.
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Tax
Personalized tax solutions that simplify complexity, minimize risk, and support your financial goals.
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Accounting
Flexible accounting support that scales with your business—bringing clarity, confidence, and expert insight to every stage of growth.
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Advisory
Strategic guidance and solutions that help you or your business grow, adapt, and thrive through every challenge and opportunity.
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Private Client Services
Personalized strategies for ultra-high-net-worth individuals to preserve wealth, minimize tax impact, and plan confidently for the future, wherever life takes you.
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Frequently Asked Questions
We compiled a list of answers to address your most processing questions regarding our Industries.
A Section 42 audit is a specialized financial review required for properties using the Low-Income Housing Tax Credit (LIHTC) program. It makes sure your project is strictly following IRS rules regarding tenant income limits and rent caps. Passing this annual compliance audit is necessary to protect your housing credits and keep investor funding secure.
If your property receives federal assistance or has a mortgage backed by the Department of Housing and Urban Development, you must undergo a formal HUD audit. These reviews evaluate your financial management, ensure funds are spent correctly, and verify that the property meets specific federal compliance standards for housing programs.
Affordable housing projects are usually owned by complex partnerships involving developers and equity investors. Strategic partnership tax compliance and specialized tax planning ensure that tax credits and losses are distributed correctly to investors. It also helps you spot extra savings, like accelerated depreciation, to improve immediate cash flow.
Managing different properties with a mix of tax credits, USDA Rural Development funds, and local grants creates a massive bookkeeping challenge. Using specialized outsourced accounting ensures that each housing entity tracks its money individually. This keeps your records clean and ensures you meet strict reporting rules for lenders, state agencies, and investors.
A cost certification is a detailed financial review submitted after construction or rehabilitation wraps up to lock in your final tax credits. To prepare, developers should track all construction invoices, loan fees, and soft costs using precise affordable housing accounting methods throughout the build. Keeping these files organized prevents long delays when it is time for your CPA firm to sign off on the project.
Let us connect you with one of our partners to start a conversation, the first step in uncovering what matters most to you.
