IRS Sending Letters Related to Qualified Opportunity Funds (IR 2020-274)
February 23, 2021
The IRS has started sending letters to taxpayers “who may need to take additional actions”
Category: Industry Insight
IRS Issues Like-kind Exchange Final Regs (TD 9935)
February 16, 2021
The IRS has issued final regs to implement recent statutory changes to Code §1031 regarding
How to Identify a Quality Cost Segregation Study?
February 9, 2021
By: Tim Ibbotson The Service has emphasized “corroborating evidence” and “factually intensive documentation.” The underlying
Safe Harbor for Certain PPP Loan Participants (Rev. Proc. 2020-51)
January 26, 2021
The IRS has issued a safe harbor allowing a taxpayer to claim a deduction in
Congress Acts on Expense Deductibility When a PPP Loan Is Forgiven
January 19, 2021
Normally, when a debt is cancelled or forgiven, Code §61(a)(11) dictates that the amount forgiven
How Cost Segregation Effects Recapture
January 12, 2021
Recapture is one of the most common objections to getting a cost segregation study. However,
Does Cost Segregation Method Matter?
January 5, 2021
The Audit Technique Guide states that accelerated depreciation is an “advantageous depreciation deduction option for
IRS Clarifies Deadlines for Like-kind Exchanges
December 29, 2020
In an answer to a question posted on its website, the IRS has clarified that
Failing to Satisfy One Requirement Invalidated Deduction for Conservation Easement
December 22, 2020
A partnership conveyed a conservation easement to a charity. Under the terms of the deed
Tenant Improvements in the Repair Regulations
December 15, 2020
The words lessee and lessor in §1.162 and §1.263(a) (Tangible Property Regulations) are mentioned over
Guidance on QIP Changes to Depreciation (Rev.Proc. 2020-25)
November 24, 2020
The IRS has issued guidance which allows a taxpayer to change its depreciation pursuant to
IRS Launches Centralized Partnership Audit Website (IR 2020-199)
November 17, 2020
The IRS has launched its Bipartisan Budget Act (BBA) Centralized Partnership Audit Regime website. Under
Cost Segregation Methods Are Not Created Equal
November 10, 2020
By: Lee Shreve “How much does a cost segregation study cost?” is often the first
Catch-up Depreciation
November 3, 2020
By: Robert Taylor, MBA If you have owned a commercial building for several years, a
Appreciating Depreciation for Real Estate Brokers
September 29, 2020
You can become a Tax Hero to your current and potential real estate clients. We’re
Cost Segregation and Estate Planning
September 15, 2020
Cost segregation can be a very effective strategy for Estate Planning Attorneys. If the grantor
The Real Estate Professional (REP) Designation
August 20, 2020
One of the most misunderstood areas of real estate is the real estate professional (REP)
Additional Final Regulations Issued on Section 199A Deduction and Suspended Loss Rules (T.D. 9899)
August 11, 2020
The IRS has released “additional final regulations” on the Sec. 199A qualified business income (QBI)
IRS Issues Final Regulations on Debt v. Equity
August 3, 2020
The Latest: Debt v. Equity Regulations In October 2016, the IRS issued proposed regulations on
Rentals with No Employees Eligible for PPP Loans
July 21, 2020
Eligibility of PPP Loan Forgiveness Would an LLC which only held real estate and had
The Opportunities of the Small Tax Payer Safe Harbor
July 11, 2020
The Small Tax Payer Safe Harbor, along with the Routine Maintenance Safe Harbor, are two
Tax Cuts and Jobs Act Changes Including 100 Percent Bonus Depreciation
June 16, 2020
In December 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law, and
CARES Act Retroactively Fixes The TCJA Glitch
June 9, 2020
Qualified improvement property (QIP) placed into service after 2017 (i.e., regardless of the tax year
Amendments Made to Excess Business Loss Limitation in the CARES Act
June 9, 2020
Previously, Code §461(l)(1) disallowed the deduction of “excess business losses” by non-corporate taxpayers (i.e., an
Temporary Modification of NOL Rules
May 20, 2020
Previously, under Code §172(a), amount of NOL deduction equal to lesser of: Aggregate of NOL
The Least Used but Very Taxpayer-Friendly Option: Routine Maintenance Safe Harbor
May 15, 2020
Written into the Final Tangible Property Regulations (263a) are a set of Safe Harbors that
Maximizing Tax Savings Under the CARES Act Using Cost Segregation
April 21, 2020
On March 27, 2020, the “CARES ACT,” a $2.2 trillion stimulus package, was signed into
The De Minimis Safe Harbor Annual Election
March 19, 2020
Written into the Final Tangible Property Regulations (263a) are a set of Safe Harbors that
Repair Regulations. Are you in Compliance?
July 22, 2015
The largest re-write of the U.S. Tax Code since the 1980’s may be just what
Choosing a Firm to Conduct my Cost Segregation Study
July 9, 2015
When you’re dealing with taxes, you want to do everything exactly by the book. So,