New IRS Form 3115 is Now Required for Applications for Accounting Method Changes
On April 7th, the IRS informed taxpayers and tax practitioners that it has issued a revised Form 3115, Application for Change in Accounting Method, and its...
R&D Tax Credits for the Beer and Wine Industries
The research and development (R&D) tax credit is a valuable tool for incentivizing innovation and research in many industries, including the beer and wine industry....
Reducing or Mitigating Tax Liability on Self-Storage Properties with a Cost Segregation Study
Self-storage facilities have become increasingly popular over the past few decades, as people look for ways to store their belongings without having to worry about...
The Value of a Cost Segregation Study and When Not to Get One
Senate introduces bill to repeal the TCJA 174 R&D Amortization Requirement
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...
Common Questions About Cost Segregation as a Tax Strategy
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...
Lower Your Effective Tax Rates with Specialty Tax Incentives
Numerous business tax incentives are available to taxpayers for the achievement of economic goals. In general, these tax incentives are combined into one ‘general...
Wineries Experience Major Benefits From Cost Segregation
With the increased popularity of wineries, advancements lead to more tax savings
Vineyards and wineries have been in existence for thousands of years. Recently,...
IRS Practice & Procedure Alert: New R&D Capitalization Requirements in Effect for 2022, whether claiming the R&D Tax Credit or not!
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...
Tax Saving Strategies for Hotel Owners
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...
A. Chris Ostler, CPA
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