Category: Tax

Tax

Knowing When a Rental Property is Placed in Service is Key to Claiming Bonus Depreciation by Angie Adames, CPA


Posted on July 16, 2025 by Angie Adames

The expansion and permanent reinstatement of 100 percent bonus depreciation under the One Big Beautiful Bill Act (OBBBA) is a welcome change for rental real estate developers and owners, who can once again write off a larger portion of their costs for qualifying business assets upfront rather than spreading them out over the property’s useful […]

IRS Reverses Course on Regulations Concerning Partnerships’ Related-Party Basis-Shifting Transactions by Alex Keneiby, CPA


Posted on May 26, 2025 by Alex Keneiby

The IRS has announced its intention to withdraw final regulations issued just three months prior that would have imposed new reporting requirements on partnerships engaged in certain related-party basis-shifting transactions. By rescinding these regulations and the related penalties for noncompliance, the IRS aims to eliminate what it calls “complex” and “costly” compliance burdens on partnerships. […]

Using a Taxability Matrix to Simplify Business Sales Tax Compliance from One State and Locality to the Next by Christian J. Burgos, CMI, JD, LLM


Posted on May 21, 2025 by Christian Burgos

Sales tax compliance can be a monumental task for a business with activities in multiple states, each with their own tax rates and sales tax reporting thresholds. However, navigating through these complexities and maintaining compliance is possible with the right tools. States are increasingly looking for new ways to fill their tax gaps by establishing […]