KBKG Tax Insight: IRS Releases Guidance on Bonus Depreciation

12/03/2020

On November 6, 2020, the IRS released Revenue Procedure 2020-50 providing guidance on implementing the most recent bonus depreciation regulations. These regulations, issued in September 2020, addressed feedback and slightly revised provisions of the 2019 proposed bonus regulations. Since the Tax Cuts and Jobs Act bonus depreciation rules have changed over the iterations of proposed … Read More

[PRESS RELEASE] Tax Specialty Firm KBKG Joins Real Estate Roundtable

10/21/2019

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

Evaluating a Cost Segregation Provider? Consider Someone with the ASCSP Certification

07/23/2019

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

KBKG is Exhibiting at NJCPA Annual Convention & Expo

06/05/2019

Our New York-based Director, Sumit Sharma, Regional Manager, Pedro Martin-Moreno, and Regional Director, Alexis McClellan, will be exhibiting at the New Jersey Society of CPAs Convention & Expo, from June 12th through 13th. Come by booth #425. NJCPA Annual Convention & Expo features sessions in various topics including tax, leadership, accounting, and more. Post Update … Read More

Featured Speaker – Sumit Sharma

05/31/2019

Our Director, Sumit Sharma, has been featured as a speaker for Lorman Education. He’ll be discussing Advanced Applications for the Life Cycle of Real Estate on June 17 at 1 pm ET on their platform. With over 12 years of experience, Sumit has been a featured speaker and author for agencies such as Accounting Today, … Read More

Minimize Gains on Sale of Condos in Mixed-Use Developments. Condo Tax Basis Allocation Studies

01/09/2018

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

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