For the most up-to-date information on Qualified Improvement Property, see our latest post. Rev. Proc. 2020-25 was issued on April 17, 2020, providing guidance on how to implement Qualified Improvement Property (QIP) corrections made within the CARES Act. With this guidance, the IRS provides several options for taxpayers who have placed QIP into service during … Read More
For the most up-to-date information on Qualified Improvement Property, see our latest post. In response to our previous release last week, Qualified Improvement Property (QIP) Technical Correction in CARES Act, KBKG has received several inquiries related to the changes in QIP law. Since that post, we have also learned more through discussions with high ranking … Read More
Our New York-based Principal, Malik Javed and Regional Director, Alexis McClellan, will be representing KBKG at the Massachusetts Society of CPAs New England Practice Management Conference, from November 20th to 22nd. This conference brings together professionals for roundtables and panels focused on topics like TCJA, tax credits, firm revenue and more. Malik Javed and, Alexis … Read More
![[PRESS RELEASE] Tax Specialty Firm KBKG Joins Real Estate Roundtable](https://www.kbkg.com/wp-content/uploads/RER-Press-Release-Blog.jpg "[PRESS RELEASE] Tax Specialty Firm KBKG Joins Real Estate Roundtable")
Last year, specialty tax incentive firm KBKG joined the Real Estate Roundtable (RER), and several of KBKG’s executive leadership team currently serve as members of the organization’s President’s Council, Associate Council, and Committees. RER’s mission is to bring together leaders of the nation’s top, publicly held and privately-owned firms with major national real estate industry … Read More
We are excited to announce that we are expanding our New York City office in Midtown with the addition of Research & Development Tax Credit Service Director Paul McVoy, who is relocating from KBKG’s Pasadena Headquarters. While KBKG has had a strong presence in the New York City area for several years, Paul’s addition will … Read More
Are you considering a cost segregation study? As you begin to evaluate potential service providers, it’s important to remember that there are significant differences among cost segregation advisors in the marketplace. Sometimes taxpayers are not immediately aware of how those differences may impact their experience from start to finish. The American Society of Cost Segregation … Read More
The Internal Revenue Service (IRS) released a relatively substantial update to their Cost Segregation Audit Techniques Guide (ATG) in order to incorporate various tax and legal developments since it was first released. Originally published in 2004, the Cost Segregation Audit Techniques Guide assists IRS examiners during audits by providing an understanding of technical information, examination … Read More
When a client dies, a critical estate planning area for tax professionals involves managing the step-up in basis on inherited assets for estate and income tax purposes. The general rule for real estate is that when a property is inherited, any gains built up during the decedent’s life are not recognized. The beneficiary also receives … Read More
When a client dies, a critical estate planning area for tax professionals involves managing the step-up in basis on inherited assets for estate and income tax purposes. The general rule for real estate is that when a property is inherited, any gains built up during the decedent’s life are not recognized. The beneficiary also receives … Read More