LIHTC cost certification audits for tax credit allocation

Why Cost Certification Matters

The final cost audit that unlocks Form 8609

A LIHTC cost certification is the independent CPA audit of your development costs required by state agencies to calculate eligible basis for tax credits and issue IRS Form 8609. Without a thorough low-income housing cost audit, and 8609's. the credits will not be issued resulting in recapture for previously claimed credits and loss of tax credit equity. Little & Associates performs this final cost audit for new construction and rehab projects across Louisiana, Mississippi, Arkansas, Alabama, Tennessee, Oklahoma, and Texas—from downtown New Orleans and Baton Rouge’s Mid City to Dallas–Fort Worth and Houston’s East End—so your allocation moves from placed-in-service to credits in hand.

What We Bring To The Table

Housing development cost certification with agency fluency

Little & Associates focuses on affordable housing, so our work reflects how LIHTC really runs: developer fee limits, related-party rules, eligible basis, and state checklist nuances. We’re familiar with expectations from agencies like the Louisiana Housing Corporation and Mississippi Home Corporation, and we speak the same language as investor counsel and lenders when it’s time to true-up the sources and uses. If you’re coordinating audit timing with annual reporting, our broader audit & assurance services keep calendars aligned.

How The Cost Certification Audit Works

From document intake to an accepted report

We begin with a focused list prepared by client, and a kickoff around timing, investor deadlines, and agency requirements. Fieldwork covers construction draws, soft costs, land basis, interest capitalization, reserves, and developer fee calculations. We reconcile contracts and change orders, analyze related-party transactions, and prepare schedules that map to state templates. If your project is still early in the cycle, we’ll coordinate with your team on Carryover allocation audits and outline a path from 10% test to placed-in-service with minimal rework.

Layered Deals: Historic & Bonds

Historic tax credit cost audit and bond considerations

For twinned deals, we factor Historic Tax Credits and tax-exempt bond financing into the approach—separating QREs from non-QREs, aligning placed-in-service timing, and presenting schedules agencies accept. When your rehab has heritage value, our team coordinates with historic rehabilitation consulting to help maximize both programs without tripping eligibility rules.

Why Developers Choose Little & Associates

Accuracy, credibility, and speed when timing is tight

We deliver clear reports that agencies and investors recognize, reducing back-and-forth and keeping equity installments on schedule. Our regional experience—from Monroe and West Monroe to Little Rock, Jackson, and San Antonio—means we anticipate the questions before they slow you down.