June 20, 2022

For the first time in many years, the Internal Revenue Service issued a revised Cost Segregation Audit Technique Guide to assist its Revenue Agents and Field Agents in determining the soundness of cost segregation studies submitted by taxpayers to substantiate accelerated depreciation deductions taken on filed tax returns.

July 12, 2022

The Federal-Level R&D Tax Credit Program (the “Program’) was born out of the Economy Recovery Act of 1981 under the President Reagan Administration over 40 years ago. The Program has been credited to helping the US economy not only come out of our then deep recession of the early 1980’s, but also helped foster enormous growth across diverse industry sectors within the US economy for the last four decades!

July 26, 2022

Tangible Property Regulations compliance services are best rendered by an engagement team made up of skilled tax professionals to interpret the latest tax laws and engineers to truly comprehend the building envelope including all its components and systems.

August 9, 2022

On May 26th of 2022, the Internal Revenue Service’s (the “Service” or the “Service’s”) Large Business and International Practice Unit (“LB&I”) released new administrative authority governing the I.R.C. § 179D deduction for building energy efficiency.

August 23, 2022

On August 16th, the Inflation Reduction Act of 2022 (the “Act”) was signed into law by President Biden. This sweeping Act contains over 300 pages, yet still represents a scaled-back version of President Biden’s former Build Back Better Act from 2021 which was never passed into law. The 2022 Act passed the House by a […]

September 6, 2022

Cannabis conjures up an array of emotions in many people. It has become a very hot topic in the recent past, drawing passion from both sides. With many states legalizing cannabis for both medicinal and recreational use – it is shocking that it’s still not legal at the federal level. With all of the controversy […]

September 27, 2022

Cost segregation is a powerful tax strategy used by commercial and residential rental property owners to help free up cash flow and mitigate tax liability. It involves a detailed study of your building assets to identify which parts of your property qualify for accelerated depreciation expense. By this point you are probably thinking to yourself […]

October 4, 2022

On Friday, September 30th, the IRS announced that the transition period during which taxpayers are provided 45 days to cure a R&D tax credit claim for refund under Sec. 41 of the Code prior to the IRS’s final determination on the claim has been extended through January 10th of 2024. Taxpayers are still required to […]

October 11, 2022

On August 9th, President Biden signed into law the CHIPS Act of 2022 offering billions of dollars in grants and a generous income tax credit to jump-start semiconductor manufacturing within the United States. The CHIPS Act passed with strong bi-partisan support as a vehicle to bolster semiconductor manufacturing activities within the United States. The CHIPS […]

October 25, 2022

The R&D credit program was permanently extended as part of the Protecting Americans from Tax Hikes Act of 2015. It contains many significant enhancements starting in 2016, including offsets to the alternative minimum tax and payroll tax for eligible businesses. The R&D credit program is still based on credit-eligible R&D expenses, but payroll tax offsets […]

November 22, 2022

The food sciences and bio-flavoring industry continues to invest on a large scale every year to develop healthier food choices that contain: No Trans Fat; No MSG; Reduced Sugar; Reduced Sodium; Gluten Free; No Artificial Flavors; No Artificial Preservative; and No GMOs. These scientific advancements within the food sciences industry are significant for these new […]

December 7, 2022

Residential real estate probably is not the first property type to come to mind when discussing cost segregation. In fact, there are many misconceptions that exist around residential real estate and tax deductions. It is heavily advertised that commercial properties benefit from cost segregation, but residential properties used for rental activities can benefit  as well.  […]

December 20, 2022

Taxpayers claiming Federal-level R&D tax credit claims have always found it to be a very onerous and arduous task ever since the inception of this incentive into the Internal Revenue Code back in 1981.    However, claiming the Federal-level R&D tax credit just became even more challenging this year effective January 1st of 2022 because of […]

January 4, 2023

Cost Segregation is a highly advantageous tax planning strategy that allows companies and individuals alike who have either constructed, purchased, inherited, expanded or remodeled any kind of income producing commercial real estate to increase cash flow by accelerating depreciation deductions and reducing their federal income taxes. To supplement accelerated depreciation deductions, bonus depreciation is also […]

January 17, 2023

Using Cost Segregation for a Cash Infusion to Reinvest in Your Hotel Running a successful hotel isn’t as simple as buying a property and renting rooms – although to the general public who frequent hotels, I’m sure that seems like the case. If you own a hotel, you already know the work it takes to […]

February 2, 2023

For tax years beginning after Dec. 31, 2021, a provision change from the Tax Cuts and Jobs Act of 2017 has taken effect by modifying I.R.C. § 174 and consequently requiring R&D expenses to be capitalized and amortized over multiple years (either five or 15 years depending on circumstances) instead of being deducted in the […]

February 14, 2023

With the increased popularity of wineries, advancements lead to more tax savings  Vineyards and wineries have been in existence for thousands of years. Recently, however, they have become more than a center for manufacturing – they have transitioned into a destination for entertainment and tourism. People travel to a location specifically for wine, they host […]

February 28, 2023

Numerous business tax incentives are available to taxpayers for the achievement of economic goals. In general, these tax incentives are combined into one ‘general business credit’ for purposes of determining each credit’s allowance limitation for the tax year. The general business credit that may be used for a given tax year is limited to a […]

March 16, 2023

Cost segregation is a powerful tax strategy with the potential to save property owners a significant amount of money. Hiring a team to evaluate your property and accelerate depreciation on building components and land improvements can offset a significant portion (if not all) of your tax liability. If the study yields a surplus of deductions, […]

March 22, 2023

Introduction  Effective January 1st of 2022, as outlined in the Tax Cuts & Jobs Act of 2017, taxpayers can no longer fully deduct their R&D expenses in the year in which they are incurred. Instead, taxpayers must amortize their R&D expenses over five years for domestic R&D.  Worse yet, taxpayers must amortize their R&D expenses […]

March 28, 2023

***This is part 2 of a two part series addressing some common questions About cost segregation as a tax strategy. Part one can be found here As mentioned in part one of this two part series, cost segregation is a very niche and complex strategy. Using a cost segregation study to accelerate depreciation and offset your […]