Tax Methods Resources & Articles
Navigating the incredibly unforgiving landscape of Tangible Property Regulations can be a challenging for tax experts and regulators alike. Join us while we break down the individual nuances of the various Tangible Property Regulations. We also provide real world case studies illustrating how our tax experts save our clients thousands of dollars. We encourage you to explore our library of articles to broaden your understanding of the overall process from partial asset disposition to cost segregation studies. Tax regulations are always evolving and our experts are here to help. Do not hesitate to contact us to discover what we can save you and your business.
01/16/2023 Overlooked Tax Deductions for Building Improvements, Repairs or Renovations
Join Us January 16 @ 1:00pm For A Free Educational Webinar: Overlooked Tax Deductions for Building Improvements, Repairs or Renovations.Presented By: Eric P. Wallace, CPACPA of CounselKevin Jerry, MSTMaster of Science in Real Estate TaxationDiscussion will include:...
12/12/2023 Two Hour CPE on the Recently Clarified Tangible Property Regulations
Join Us December 12 @ 1:00pm EST For A Free Educational Webinar: Two Hour CPE on the Recently Clarified Tangible Property Regulations.Presented By: You will learn: The mandatory tangible property regulations, under §263a (1-3) are the biggest tax change for real...
11/21/2023 Construction Tax Deferral Update
Join Us November 21 @ 1:00pm EST For A Free Educational Webinar: Construction Tax Deferral UpdatePresented By:Are you a large contractor looking to maximize your tax savings and create an ongoing tax deferral strategy? Join our exclusive webinar to discover the...
Bonus Depreciation and TCJA Changes to Section 168
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 Cost...
How to Defer Capital Gains Taxes using a 721 Exchange
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...
Capital Gains Tax is Unfortunately Under Fire Again
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 Biden's...
When is My Building Officially Placed in Service?
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...
Beware of Firms Marketing the Employee Retention Credit
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...
Beware of Cost Segregation Firms Who Do Not Sign 3115s
Not Signing a Form 3115 is Considered to be a Bad Sign Annually, the IRS compiles a “Dirty Dozen” list of 12 scams and schemes that taxpayers may encounter, especially during tax filing season. Day six of the campaign will hit home with building owners and investors...
Did You Renovate Your Commercial Property in 2022?
Take Advantage of This Amazing Tax Opportunity When a taxpayer disposes of a portion of an asset used for making money, like a building, the disposed components have a taxable value that can be deducted in the year the assets were retired. This is missed by EVERY...