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For building owners and investors looking to avoid long-term capital gains on real estate properties, usually, the only option they see is …
The Supreme Court in Washington State recently ruled that the state’s seven percent capital gains tax is constitutional. The ruling, which basically …
As tax method change experts, one of the most common and contentious questions we hear is, “When is my building officially in …
Businesses need to think before filing a claim for the Employee Retention Credit In a further warning to people and businesses, the …
Not Signing a Form 3115 is Considered to be a Bad Sign Annually, the IRS compiles a “Dirty Dozen” list of 12 …
Take Advantage of This Amazing Tax Opportunity When a taxpayer disposes of a portion of an asset used for making money, like …
Capital budgeting is planning capital expenditures and evaluating and selecting the best paths to follow from various alternatives. The capital budgeting process …
When and how do you change a method of accounting to use the final tangibles regulations? Under the Internal Revenue Code, a …
According to IRS Publication 946, you begin depreciating your property when you place it in service for its intended use and use …
Generally, the final tangibles regulations don’t change the rules for deducting materials and supplies. The final tangibles regulations use existing court cases …
Behind the Scenes of a Cost Segregation Firm Nothing is as frustrating as contracting with a cost segregation firm to help you …
De minimis Safe Harbor: An Administrative Convenience for the Service and the Taxpayer The Tangible Property Regulations under §263a provide three safe …
Gas stations and convenience store (c-store) properties that qualify as a ‘retail motor fuel outlet’ can be depreciated over fifteen years. The …
What you should know about the Tangible Property Regulations 1. What exactly are the tangible property regulations? §162 of the Internal Revenue …
When a tax method change occurs, whether it is from cost segregation, the Tangible Property Regulations, or any other tax method changes …
Routine Maintenance Safe Harbor Building owners! Under the Tangible Property Regulations, passed in 2014, you are not required to capitalize as an …