The IRS and Treasury released Rev. Proc. 2022-14 earlier this year, updating and superseding the current list of automatic method changes. Background Taxpayers generally cannot change from an established accounting method to a different method unless they first obtain IRS consent to change from the established accounting method. Taxpayers must obtain IRS consent to change … Read More
As featured in Accounting Today Real estate owners have limited options to pull cash out of a 1031 exchange without having to pay income tax. With proper tax planning, this problem can be solved with a cost segregation study. The application of cost segregation for this purpose may vary depending on the tax rules in … Read More
![[PRESS RELEASE] KBKG Expands Atlanta Footprint with Office in Buckhead](https://www.kbkg.com/wp-content/uploads/KBKG-Tax-Insight-Nebraska-Legislators-Consider-Research-or-Experimental-Expenditures-Fully-Deductible-3-2.jpg "[PRESS RELEASE] KBKG Expands Atlanta Footprint with Office in Buckhead")
After five years in the north Atlanta metro region, the firm has moved operations inside the city’s perimeter to better serve surrounding businesses. Nationwide tax specialty firm KBKG has recently moved its existing Atlanta metro operations from the original Alpharetta location to the heart of Atlanta’s Buckhead business district. The firm’s southeast team has upgraded … Read More
Looking for CPE credit? We have several sessions available this month. Click the links below to register. If you have questions or need help registering, please email [email protected] Research & Development Tax Credit Overview CPE CREDIT: 1 hour DATE & TIME: Tues, April 5th at 12PM – 1PM Pacific This webinar will cover the fundamentals … Read More
Our Cost Segregation Director, Amar Patel, will be representing us at the Hunter Hotel Investment Conference on Tuesday, March 22nd through Thursday, March 24th in Atlanta, Georgia. As providers of Cost Segregation, 45L Tax Credits, Employee Retention Tax Credits, and more; we offer a suite of unique tax saving strategies for the real estate industry. … Read More
Acquiring or constructing a gas station with a convenience store (“C-store”) can be a lucrative addition to a real estate portfolio. Current rules allow investors to immediately write off all the improvements if certain requirements are met, and the property is placed in service after September 27, 2017. This went into effect after the Tax … Read More
The IRS on June 17, 2021 issued Revenue Procedure 2021-28, which provides procedures for taxpayers to change to the alternative depreciation system (“ADS”) for certain residential rental property placed in service prior to January 1, 2018, held by an electing Real Property Trade or Business (RPTOB). KBKG Insight: A RPTOB that made the election under … Read More
Overview Treasury and the IRS are contemplating additional procedural guidance that will assist taxpayers with compliance related to the ADS recovery period change for residential rental property. This is required under the Tax Cuts and Jobs Act (TCJA) when Real Property Trades or Businesses (RPTOBs) make the election under 163(j) to avoid interest expect limitations. … Read More
![[PRESS RELEASE] KBKG Welcomes Two New Directors to Atlanta-Based Operation](https://www.kbkg.com/wp-content/uploads/Press-Release-–-KBKG-Welcomes-Two-New-Directors-to-Atlanta-Based-Operation.jpg "[PRESS RELEASE] KBKG Welcomes Two New Directors to Atlanta-Based Operation")
Atlanta, Georgia – Nationwide tax specialty firm KBKG hired two new Directors, Amar Patel and Ian Williams, as part of their Southeast practice. Both Directors join KBKG with over 25 years of combined experience in Cost Segregation and Research & Development Tax Credits, two key services offered by the firm to CPAs and businesses. As … Read More