For orthodontists and dental practice owners, navigating the complex landscape of tax strategies can be daunting, but understanding how cost segregation and the grouping election can work in tandem offers significant financial advantages, particularly in addressing self-rental rules.
So you had a cost segregation study done – now what? Well, the answer depends on whether your study covers a property that is already depreciating or a newly acquired property. Let’s look at both scenarios:
The California Bay Area is a bustling hub of innovation and opportunity. From the towering skyscrapers of San Francisco to the tech giants of Silicon Valley, the region is home to a diverse array of businesses and properties. With so much growth and potential, it is no wonder savvy property owners are looking for ways to maximize their investments.
Savvy commercial property owners are always looking for strategies that maximize returns and improve cash flow. One such strategy is cost segregation, a powerful tax tool that reclassifies certain building components and accelerates their depreciation deductions.
As the Tax Cuts and Jobs Act (TCJA) continues to impact tax strategies, more investors are leveraging bonus depreciation on real estate investments. However, with this opportunity comes the risk of increased IRS scrutiny. Recent reports reveal a surge in audits targeting individuals who have claimed bonus depreciation on real estate assets.
The IRS has introduced significant changes to the R&D Tax Credit Form 6765, which will apply to tax years beginning in 2024. The new draft version of the form...
Innovate at the cutting edge? You might be sitting on a tax goldmine.
For high-tech software developers, the IRS Federal-Level R&D tax credit isn't just a perk, it's a...
Maximizing tax benefits while ensuring regulatory compliance is a never-ending challenge, especially for those in the hospitality, retail, and manufacturing industries....
When you conduct a 1031 exchange in the United States, you have two primary options for depreciating the property you receive in the exchange. These options are crucial...
Research and development (R&D) is a crucial aspect of any startup. It is the engine that drives innovation and growth, enabling companies to develop new products and...
Ready to explore specialty tax savings opportunities? Schedule a consultation with Veritax founder and CEO Chris Ostler today.
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