KBKG Tax Insight: Tax Reform & The R&D Tax Credit

12/21/2017

It’s been over thirty years since the tax code has been modified to this extent. It has been a talking point for politicians since the Reagan administration brokered the bipartisan Tax Reform Act of 1986. However, the divide between the political parties have kept it a talking point since then, until now. The Tax Cuts … Read More

Reduce Taxes on Condo Sales in Mixed-Use Developments with Tax Basis Allocation Studies

12/01/2017

Traditional cost accounting for mixed-use residential projects often does not properly allocate all construction costs to each section of the property. Consequently, there may be a significant understatement of cost basis for residential condominium units resulting in higher taxable gains upon sale. This is most common within vertical mixed-use developments where residential condos are stacked … Read More

KBKG Tax Insight: How Tax Reform Bills Impact Real Estate

11/10/2017

The commercial real estate industry can expect significant changes in the event that tax reform is passed. Yesterday, the House Ways and Means Committee finished marking up and approved a tax reform bill introduced last week – the “Tax Cuts and Jobs Act” with the goal of voting on it before Thanksgiving. Simultaneously, the Senate … Read More

KBKG Tax Insight: Effects of Tax Reform on R&D & Orphan Drug Credits

11/10/2017

Senate Republicans released their own version of a tax plan on Thursday (November 9, 2017), just a week after the House proposal was unveiled. Although both plans keep the research and development tax credit in place, changes in the tax code will require some additional planning for taxpayers currently claiming or those planning on claiming … Read More

Breast Cancer Awareness Month: KBKG Warrior Dori Eden Shares Her Story

10/13/2017

In support of Breast Cancer Awareness Month, we’d like to highlight the strength and courage of one of our very own: Dori Eden. Dori was diagnosed with breast cancer in April of 2017 after a 3D mammogram came back negative, and she insisted on an ultrasound that ultimately detected the mass. In a recent interview … Read More

New Tax Reform Proposal Makes Deductions More Valuable in 2017

10/06/2017

On Thursday, September 27, Republican leaders in Congress and the Trump administration released the Unified Framework for Fixing Our Broken Tax Code. Among the many ideas outlined within the plan is to reduce the corporate tax rate to 20% and provide a maximum tax rate of 25% for business income from flow through entities of … Read More

IRS Issues Guidance Around ASC 730 and the R&D Tax Credit

09/29/2017

According to a new guidance released by the IRS, the Large Business and International Division which serves corporations, subchapter S corporations, and partnerships with assets greater than $10 million are instructed to accept financial statements that comply with the GAAP standards as proof of Qualified Research Expenses (QREs). Ultimately, this new directive could lessen the formally … Read More

KBKG Tax Insight: Affordable Housing Developers & Investors Can Now Reap an Additional $2,000 Tax Credit for Each Unit Leased in 2017

03/08/2008

Affordable housing developers benefit from various tax credits from Low-Income Housing Tax Credits to Rehab Credits, yet they often fail to claim a tax credit that is geared towards their developments: the Section 45L Tax Credit. Section 45L is a commonly overlooked section of the tax code that was recently renewed and rewards energy efficient … Read More