On June 12, the IRS issued proposed regulations that define what real property is for purposes of 1031 exchanges. This was in response to changes in the Tax Cuts and Jobs Act (TCJA) that no longer allows personal property from being eligible for 1031 exchange. In their current form, the proposed regulations may create significant … Read More
For the most up-to-date information on Qualified Improvement Property, see our latest post. 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 … Read More
KBKG is committed to serving the CPA community with our deep understanding in several key areas of the tax code. Many tax professionals use our tax resources to help quickly identify and qualify clients who can benefit from additional tax credits, deductions, and incentives. If you have any questions regarding any of our areas of … Read More
As we get closer to the tax deadline, we want to remind you that it may be extremely beneficial to use the new election introduced in Rec. Proc. 2011-26 that allows a taxpayer to claim 100% bonus depreciation on certain assets where they would otherwise be limited to 50% bonus.Generally, under the bonus depreciation regulations, … Read More
President Obama is commited to help military veterans enter civilian jobs. His proposal to expand WOTC includes:”The Wounded Warrior Tax Credit will double the existing tax credit for long-term unemployed veterans with service-connected disabilities.Maintain the existing Work Opportunity Tax Credit for veterans with service-connected disabilities (currently the maximum is $4,800).A new credit of 40 percent … Read More
An article by PWC regarding “Alternative & Renewable Energy Tax Newsalert”+ Read the article Author: PWC
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
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
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
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