The Retail Motor Fuel Outlet Exception
Gas station proprietors may not be aware of a tax reporting alternative called the “retail motor fuel outlet” exception. Read for more details.
Importance of Estate Planning and Cost Segregation
When Cost Seg is used as an estate planning tool, it can result in the recognition of depreciation for the decedent that would have otherwise gone unused.
Extension, Increase, And Modifications Of The New Energy Efficient Home Credit
Learn more about the new law under The Inflation Reduction Act of 2022.
Passive Activity Loss Limitations
Understand the limitations on the current deduction of PALs and how those limitations can affect the benefits of cost seg on rental real estate.
Personal Property and §1031
Personal property no longer qualifies for gain deferral under §1031. But how do you determine if property is real or personal? The answer may depend on when the property exchange began. Learn more.
45L Energy Efficient Dwelling Credit // Overview
The IRS has extended the $2,000 tax credit for new qualifying energy efficient homes through December 31, 2021. Learn more.
§45L Energy Efficient Tax Credit
Learn all about the New Energy Efficient Home Credit under Internal Revenue Code §45L established by the Energy Policy Act of 2005 from your tax experts.
45L Energy Efficient Dwelling Credit // Quick Facts
The §45L tax credit, which is only available to eligible contractors, is potentially worth up to $2,000 for each qualified new energy efficient unit. Get more details here.
CARES Act: Net Operating Loss Changes
Read this article to see how the The CARES Act amended §172(b)(1) to provide for a carryback of any net operating loss (NOL). Learn more from your tax experts.
CARES Act: QIP and Immediate Renovations
If a taxpayer buys a building and immediately renovates it, would the improvements qualify as QIP eligible for bonus depreciation? Find out in this FAQ article.