by Kevin Jerry | Jun 6, 2023 | Bonus Depreciation
Don’t Understand Bonus Depreciation? Before 2001, an improvement to the interior of a commercial property was depreciated over the life of the building—usually 39 years. As part of the Economic Stimulus in 2001, §168(k) was passed (§168 is the Accelerated...
by Kevin Jerry | May 11, 2023 | 721 Exchange, Capital Gains Tax
For building owners and investors looking to avoid long-term capital gains on real estate properties, usually, the only option they see is a §1031 Exchange. However, another strategy, similar to a §1031, is called a §721 exchange. Both §1031 and §721 exchanges let...
by Kevin Jerry | May 11, 2023 | Capital Gains Tax
The Supreme Court in Washington State recently ruled that the state’s seven percent capital gains tax is constitutional. The ruling, which basically states that capital gains taxes are different from property taxes in the state of Washington, comes right after...
by Kevin Jerry | Apr 12, 2023 | Depreciation, In Service Date
As tax method change experts, one of the most common and contentious questions we hear is, “When is my building officially in service.” The in-service date is critical for tax planning purposes because once the building is in-service, the taxpayer can then accelerate...
by Kevin Jerry | Apr 5, 2023 | Uncategorized
Businesses need to think before filing a claim for the Employee Retention Credit In a further warning to people and businesses, the Internal Revenue Service added widely circulating promoter claims involving Employee Retention Credits as a new entry in the...
