KBKG Tax Insight: Partial Dispositions & Deduction of Demolition Costs

07/07/2020

Subsequent to the acquisition of a property, taxpayers often incur capital expenditures related to property renovations and improvements. As this work occurs, the existing components are often removed or disposed of.  IRC Section 1.168(i)-8(d)(2) allows taxpayers to realize a gain or loss by making an election to partially dispose the adjusted basis of the aforementioned … Read More

KBKG Tax Insight: Deductions are More Valuable in 2016. Accelerate Them.

01/24/2017

It may have been one of the most hotly contested, controversial campaigns in living memory, but there can be no denying the outcome of the 2016 US presidential election is generally friendly for business. President Donald Trump and the Republican Party both agree that that tax reform is a top priority to help stimulate the … Read More