Many in industry certainly wish this would become a reality and feel it’s long overdue. The Research & Development (R&D) Tax Credit (“Credit”) has been extended 14 times since first enacted in 1981. Historically the Credit has been temporary in nature and when extended it has generally been extended for two year periods, often retroactively. … Read More
Alternative and Renewable Energy
An article by PWC regarding “Alternative & Renewable Energy Tax Newsalert”+ Read the article Author: PWC
Congratulations, Marcus Weaver, SCSP; ASCSP Treasurer
KBKG congratulates Marcus Weaver, SCSP for being elected to serve as the Treasurer in the American Society of Cost Segregation Professionals (ASCSP) Board of Directors, Executive Committee for the 2011-2012 year.In addition Gian Pazzia, CCSP has also served on ASCSP’s Board of Directors since 2007, and is the current Chair of the Technical Standards Committee.ASCSP … Read More
IRS issues Final Regulations on Election and Calculation of the R&D Alternative Simplified Credit
Background The Alternative Simplified Credit (ASC) calculation was added by the Tax Relief and Health Care Act of 2006 and is available for tax years ending after December 31, 2006. The ASC allows a tax credit of up to 14% of a taxpayers excess qualified research expenses (QREs) over a base amount. The base amount … Read More
Expending Energy
Once identified, tax breaks and utility rebates offer apartment operators decent incentives to engage in energy-efficiency projects.Adelaide Grady can point to one of the best green investments multifamily money can buy: For $6.35 at any big box retailer, you can get a tube of acrylic latex caulk and a caulk gun that can immediately begin … Read More
Obama’s Plan to Win the Future….
The White House / Office of Media AffairsPresident Obama’s Plan to Win the Future by Making American Businesses More Energy Efficient through the “Better Buildings Initiative”In his State of the Union, President Obama laid out his vision for winning the future by investing in innovative clean energy technologies and doubling the share of electricity from … Read More
Tax Relief Act (H.R. 4853) Overview
Summary of H.R. 4853 Benefits 100% Bonus Depreciation & Extension of 50% Bonus– Temporary 100% bonus depreciation deduction for qualifying property placed in service between 9/9/10 and 12/31/11. 50% Bonus Depreciation provisions have also been extended through the end of 2012 (2013 for certain property). 15-Year Life for Qualified Real Property – 2-year extension … Read More
Tax Relief Act (H.R. 4853) Passed by Congress
President Obama is expected to sign the Bill soon. Many of the incentives are temporary so taxpayers should act quickly to take advantage of them.+ Read the Bill
Alternative & Renewable Energy Tax News Alert
Senate begins consideration of tax “extenders” package including one-year extension of Treasury grant programOn Thursday evening, the Senate began consideration of a bill (H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010), that includes two-year extensions of Bush-era tax cuts for all taxpayers, changes to the estate tax, and a … Read More
Capitalization vs. Repairs – Audit Techniques Guide
The IRS recently released its Audit Techniques Guide related to issue of Capitalization vs. Repairs. This issue has received a significant amount of attention by the IRS over the last couple of years as many taxpayers have filed for Changes in Accounting Method to take advantage of missed deductions. Because the amount of deductions can … Read More