Our technical team has been keeping tabs on the latest updates on the Hill in regards to tax extenders and technical corrections, given how they may impact Green Building Tax Incentives (45L and 179D) and the cost recovery of Qualified Improvement Property for 2018 and beyond. We will post our updates here to keep you … Read More
Are you or your clients interested in performing a cost segregation study as we look toward the upcoming extension deadline? If so, now is the time to get started to meet the September 15th tax deadline. KBKG is committed to timely work, and we are starting to get busy with Cost Segregation projects. Help us … Read More
![There’s Still Time to Claim the R&D Tax Credit on Extension [Infographic]](https://www.kbkg.com/wp-content/uploads/Claim-the-RD-Tax-Credit-on-Extension.jpg "There’s Still Time to Claim the R&D Tax Credit on Extension [Infographic]")
Are you or your clients interested in claiming the R&D Tax Credit? Good news. There is still time to perform a study for inclusion on your extended returns, but you must act fast. Time is running out. What is the R&D Tax Credit? The Research and Development Tax Credit can be applied to qualified research … Read More
Reproduced with permission from Daily Tax Report, 62 DTR 12, 4/2/19. Copyright _ 2019 by The Bureau of National Affairs, Inc. (800-372-1033) https://news.bloombergtax.com/daily-tax-report/insight-tax-insight-the-impact-of-tcja-on-cost-segregation-and-like-kind-exchange Like-kind exchange has been a popular tax deferral tool for decades. Under IRC 1031, a taxpayer can defer tax on gain from the sale of a business or investment property if it … Read More
Momentum may be building in Congress towards correcting a significant clerical error in the Tax Cuts and Jobs Act (TCJA). The error, known to some as the “retail glitch,” prevents investments in qualified improvement property (QIP) from qualifying for bonus depreciation. The correction would reduce the recovery period for QIP from 39 years to 15 … Read More
Senate Update Last Thursday, February 28, 2019, Senate Finance Committee Chairman Chuck Grassley (R. Iowa) and Ranking Member Ron Wyden (D. Oregon) introduced bipartisan legislation to retroactively extend tax extenders for 2018 and 2019 while also providing disaster tax relief benefits to those affected by major disasters in 2018. “Congress needs to get out of … Read More
On Thursday, February 14, 2019, Senate Finance Committee Chairman Chuck Grassley (R. Iowa) addressed tax policy and various provisions that KBKG and the Real Estate Roundtable have been monitoring closely. In his speech, Senator Grassley expressed his commitment to pursue tax extenders and rejection of press reports suggesting that some provisions may no longer be … Read More
Calculating and documenting the Internal Revenue Code Section 41 Credit for Increasing Research Activities (“Research Credit” or “R&D Credit”) is an intricate and often burdensome undertaking. This process is complicated during the throes of busy season. Fortunately, the Internal Revenue Service (“IRS”) has afforded taxpayers additional time to claim a R&D credit via making a … Read More
With the 2017 tax year behind us, tax professionals are laser focused on the various new rules presented by the recent Tax Cuts and Jobs Act (TCJA) effective for the 2018 tax year. One of the most significant changes related to real estate improvements is the new eligibility criteria for qualified improvement property (QIP). The … Read More
With the Research & Development (“R&D”) Tax Credit now permanent and expanded, more and more businesses are taking full advantage of this valuable credit. As manufacturing continues to be a mainstay in the American economy, it’s crucial for owners and operators of these facilities to maximize the opportunity provided by the federal government (some states … Read More