Gian Pazzia, CCSP, of KBKG elected President of ASCSP (2013 – 2015)

06/07/2013Cost Segregation, News

PASADENA, CA – KBKG congratulates Gian Pazzia, CCSP on his recent election as President of the American Society of Cost Segregation Professionals (ASCSP). “I’m looking forward to the opportunity to further develop and promote the American Society of Cost Segregation Professionals (ASCSP). With representation from Big Four all the way down to boutique cost segregation … Read More

Temporary Regulations Create New Applications for Cost-Segregation Studies

09/10/2012Cost Segregation, News

The AICPA recently released an article titled “Temporary Regulations Create New Applications for Cost-Segregation Studies”. It details: Expenses & Deductions, Building Improvements and Repairs, Building Component Dispositions and concluded that “There are a number of considerations to be made in applying the temporary regulations. In addition to dispositions and structural improvements, the temporary regulations prescribe … Read More

Is the Value of Cost Segregation Depreciating?

08/10/2012Cost Segregation, Tax Insight

The IRS has challenged the classification components of cost segregation studies done for major corporations such as AmeriSouth XXXII, Ltd. They are calling into question the validity of cost segregation studies and its “savings” to taxpayers. The courts have generally ruled in favor of the IRS, however, even after such rulings, many believe that the … Read More

Side Effects of Cost Segregation

04/11/2012Cost Segregation, News

The Journal of Accountancy recently published an article titled “Side effects of cost segregation.” “Increased current cash flows and net-present-value savings from accelerated tax depreciation resulting from cost-segregation studies have been discussed in the JofA and other professional literature. But the initial cost-segregation decision can determine later tax side effects, both positive and negative. This … Read More

ASCSP Board Member Comments on Recent Regulations

03/30/2012Cost Segregation, News

Gian P. Pazzia, CCSP and Principal at KBKG, Inc. works collectively with the American Society of Cost Segregation Professionals (ASCSP) to provide insights on current tax issues including ASCSP’s comments to the IRS on the Repair v. Capitalization Temp. Regs., ASCSP’s industry commentary on PECO Foods v. Commissioner and also ASCSP’s comments on the AmeriSouth … Read More

Cost Segregation Studies: Best Practices – Seminar

03/06/2012Cost Segregation, News

Gian Pazzia will be speaking in an upcoming Strafford live phone/web seminar entitled “Cost Segregation Studies: Best Practices” scheduled for Thursday, April 5, 1:00pm-2:50pm EDT. Because of your affiliation with KBKG, you are eligible to attend this seminar at 50% off. A thorough cost segregation study can materially reduce federal income taxes (by segregating personal … Read More

Decision in Peco Foods, Inc. v. Commissioner May Affect Your Ability to Perform a Cost Segregation Study

02/28/2012Cost Segregation, Tax Insight

While the law regarding the binding nature of an asset allocation agreement under IRC Section 1060 is well established, KBKG notes the specific facts and circumstances of the Peco Foods case in making our recommendations below. Regarding the terms of a purchase agreement that includes real estate, taxpayers and their advisors should ensure that any … Read More