KBKG Launches New Residential Cost Segregation Software

12/01/2016Cost Segregation, News, Recent News

  Press Release: Pasadena, California, December 1, 2016 – KBKG, a nationwide tax solutions firm headquartered in Pasadena, California, recently launched the Residential Cost Segregator™, an innovative cost segregation software which allows tax preparers and building owners to generate detailed cost segregation reports on smaller residential properties. The Residential Cost Segregator™ shatters previous conceptions that … Read More

KBKG Tax Insight: IRS Issues Final Regulations Surrounding the Qualification of Internal Use Software towards the R&D Tax Credit

10/04/2016News, R&D Tax Credit, Tax Insight

On October 4, 2016, the Internal Revenue Service issued final regulations which provide guidance on the qualification of internal use software (“IUS”) for purposes of the Section 41 Credit for Increasing Research Activities. The final regulations (TD 9786) address many of the comments received regarding the proposed regulations that were released in January of 2015. … Read More

Estate Planning Strategy Using Cost Segregation

08/19/2016News, Recent News, Tax Insight

Real estate owners and investors often use cost segregation studies to accelerate depreciation deductions, generate current income tax benefits, and improve cash flow. But did you know that a cost segregation study can also be used as a powerful estate-planning tool? One of the advantages of transferring property at death (rather than by lifetime gift) … Read More

IRS provides 1 year extension to claim missed repair deductions on 2015 returns

06/03/2016News, Recent News, Repair Regulations, Tax Insight

The recently released Rev. Proc. 2016-29 details new procedures for automatic accounting method changes, as discussed in a previous KBKG Tax Insight, and effectively provides a one year extension for taxpayers to implement many portions of the Tangible Property Regulations (TPR). Taxpayers are generally not permitted to make an automatic method change if they made … Read More

Research Tax Credit Opportunities for Architects and Engineers

05/17/2016News, R&D Tax Credit, Recent News, Tax Insight

Architecture and engineering firms may want to take another look at the often forgotten Research & Development (R&D) Tax Credit. Many may be eligible for federal and state research credits without realizing it. Historically, the R&D Tax Credit was geared to only benefit large companies; mostly in the manufacturing, software, high-tech and pharmaceutical industries. However, … Read More

Rev. Proc. 2016-29: New Procedures for Automatic Accounting Method Changes

05/11/2016Cost Segregation, News, Tax Insight

The IRS recently released Rev. Proc. 2016-29, which lists automatic method changes and provides procedures for making them. Form 3115’s filed on or after May 5, 2016 must follow the updated rules. Background. Taxpayers make accounting method changes for numerous reasons, such as claiming missed depreciation from a Cost Segregation study, reclassifying capital expenditures as … Read More