KBKG Tax Insight: Tax Reform Changes to “Qualified Improvement Property”


As the dust is settling from tax reform, many CPAs are scrambling to keep track of the various sections of the tax code that were affected. The new law eliminates depreciation categories for qualified leasehold improvements (QLI), qualified restaurant property (QRP), and qualified retail improvement property (QRIP) and replaces them with qualified improvement property (QIP). … Read More

Tax Insight: How to Co-ordinate Cost Segregation with Like-kind Exchange


The Tax Cuts and Jobs Act (TCJA) was signed by the President on December 22, 2017. The TCJA is the most significant overhaul of Internal Revenue Tax code since the 1986 Tax Act under President Reagan. The Committee Report has over a thousand pages of modifications to many areas of the tax code. One piece … Read More

John Hanning Talks About New KBKG Office Opening in Atlanta


We are proud to announce the opening of our new office in the southeast. The new location, led by KBKG leader and director, John Hanning, is in Alpharetta, Georgia just outside of Atlanta. We had the opportunity to catch up with John recently to hear about the new community and KBKG’s presence there. KBKG: What … Read More

Reduce Taxes on Condo Sales in Mixed-Use Developments with Tax Basis Allocation Studies


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

KBKG Video: Top 5 Things You Should Know About Cost Segregation


Are you a tax professional looking for an easy way to explain Cost Segregation to your clients? This 3-minute video helps building owners understand why they should consider Cost Segregation for their building and covers the top 5 things they need to know to get started. Cost Segregation is a commonly used strategic tax planning … Read More

KBKG Tax Insight: How Tax Reform Bills Impact Real Estate


The commercial real estate industry can expect significant changes in the event that tax reform is passed. Yesterday, the House Ways and Means Committee finished marking up and approved a tax reform bill introduced last week – the “Tax Cuts and Jobs Act” with the goal of voting on it before Thanksgiving. Simultaneously, the Senate … Read More

KBKG Tax Insight: Effects of Tax Reform on R&D & Orphan Drug Credits


Senate Republicans released their own version of a tax plan on Thursday (November 9, 2017), just a week after the House proposal was unveiled. Although both plans keep the research and development tax credit in place, changes in the tax code will require some additional planning for taxpayers currently claiming or those planning on claiming … Read More

KBKG Tax Insight: 5 Tips for Properly Vetting a Specialty Tax Consultant


CPAs know it is imperative to refer clients to 3rd party consultants for various issues that require deep specialization in an area of tax. In many ways, these specialty tax firms act as an extension of your team and require coordination to deliver results that often have a material impact on a tax return. While … Read More