Posted on October 20, 2020
by
Heath Standorf
The IRS recently published final regulations regarding the business interest expense deduction limitations introduced in 2017 by the Tax Cuts and Jobs Act (TCJA) and recently updated by the CARES Act. Included in the final regulations are guidance to help taxpayers identify and calculate their interest deduction limitation and FAQs to help them understand if […]
Posted on October 06, 2020
by
Angie Adames
On Sept. 21, 2020, the IRS released the last set of final regulations regarding the 100 percent first-year bonus-depreciation deduction on qualifying business assets, which Congress introduced at the end of 2017 as a part of the Tax Cuts and Jobs Act (TCJA). The final regulations clarify and amend previous guidance relating to the definition […]
Posted on August 13, 2020
by
Angie Adames
There is no doubt the tax laws concerning real estate are complex. One of the more common challenges faced by owners and investors is distinguishing between property repairs and capital improvements. While both can provide tax benefits, an incorrect classification could have significant impact on the amount of taxes you owe. The U.S. tax code […]
Posted on July 28, 2020
by
Angie Adames
The use of net operating losses (NOLs) to offset taxable business income continues to evolve under the CARES Act, which temporarily reinstates NOL carrybacks that were previously eliminated under the Tax Cuts and Jobs Act (TCJA). The most recent IRS guidance concerns the application of the new NOL rules for consolidated groups. The TCJA, which […]
Posted on June 12, 2020
by
Eric Green
On June 4, 2020, in response to the COVID-19 pandemic, the IRS issued another round of guidance relaxing certain deadlines and requirements that Qualified Opportunity Zone (QOZ) investors and funds must meet in order to obtain preferential tax benefits. As a reminder, the QOZ program, introduced by Congress in December 2017 provides investors with potential […]
Posted on April 30, 2020
Here are the slides from our webinar held on April 30, 2020. Real Estate Webinar Slides April 2020
Posted on April 27, 2020
by
Art Lieberman
The COVID-19 crisis has caused major economic hardship for many companies, making it imperative for businesses of all kinds to increase cash flow to ensure survival. Taxpayers should not overlook the potential to reduce 2019 taxes and/or generate refunds of taxes previously paid from 2014 through 2018 by making an election to deduct eligible 2020 […]
Posted on April 27, 2020
by
Eric Green
Investors and other taxpayers involved in Section 1031 tax-deferred exchanges during the COVID-19 pandemic may now have additional time to identify and/or close on replacement property without losing the preferential tax treatment afforded by these transactions. Section 1031 of the Internal Revenue Code allows real estate investors to defer recognition of capital gains on the […]
Posted on April 09, 2020
by
Art Lieberman
The COVID-19 pandemic has brought a variety of commercial transactions to a screeching halt. For businesses and investors involved in the Qualified Opportunity Zone (QOZ) program, this temporary pause can delay their ability to meet the program’s statutory time constraints, which may expose them to excise-tax penalties. However, relief from some deadlines currently is available […]
Posted on April 01, 2020
by
Angie Adames
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) grants a 15-year depreciation period to qualified improvement property (QIP), making it eligible to bonus depreciation. With this legislation, businesses with commercial real estate holdings may immediately write-off expenses incurred to improve the interiors of non-residential buildings rather than depreciating those costs over 39 years. This […]
