Tag Archive: "Cost Segregation Study"
-
Our Top 10 Blog Posts of 2023
The end of the year is a great time to reflect on the year that was and to express gratitude for those that made an impact on our lives. On behalf of my colleagues and fellow bloggers, Courtney DeVane, Brian Duren and Jeremy Siebert, we sincerely thank you for your loyal readership and engagement. In […]
-
It’s Year-End…Let’s Find Some Deductions!
Fixed asset reviews and repair and maintenance studies can be effective tools in year-end tax planning. Prior to December 31, 2022, taxpayers were able to benefit from 100% bonus depreciation on certain assets for federal and (possibly) state income tax purposes. The amount of allowable bonus depreciation began to be reduced effective January 1, 2023. […]
-
The Principal Elements of a Quality Cost Segregation Study
In June 2022, the Internal Revenue Service (IRS) released their Cost Segregation Audit Technique Guide, which included tax law updates for the Protecting Americans from Tax Hikes (PATH) Act, Tax Cuts and Jobs Act (TCJA), the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Taxpayer Certainty and Disaster Tax Relief Act of 2020. […]
-
Tax Planning Strategies for 2022 and Beyond
Happy holidays, everyone! The following are just a few year-end strategies that could yield significant tax benefits for 2022 and beyond. Roth IRA conversions Many retirement account values decrease in 2022, presenting an opportunity for taxpayers to consider converting their traditional IRA to a Roth IRA. When a traditional IRA is converted to a Roth […]
-
CLA Talks: The Effect of Legislation on Cost Segregation Studies
Mona Stocki, Director and leader of our Cost Segregation practice, stopped by to discuss the impact of legislation on cost segregation studies and the real estate industry. Our conversation will be a great refresher of the Tangible Property Regulations and the revised definition of personal property with respect to Section 1031 exchanges. Oh, and a […]
-
CLA Talks: Federal Tax Strategies for the Real Estate Industry
Cost Segregation Director Mona Stocki recently joined me to discuss the different ways that real estate clients can maximize deductions and improve cash flows. In this CLA Talks video, Mona highlights the benefits of cost segregation studies, repairs and maintenance studies, and fixed asset reviews. If you are looking to learn how accelerated and bonus […]
-
Cost Segregation and Qualified Improvement Property Studies
With rising material costs, continued supply chain issues and prolonged labor shortages affecting the construction and real estate industries, now might be a great time to consider a cost segregation study for real property acquired, constructed or improved over the last 10 to 15 years. Cost segregation is a tax planning tool used to defer […]