Do You Suspect It May Be Time to Test for Fixed Asset Impairment? This Will Help. Fixed asset impairment occurs when an asset experiences a one-time or unexpected drop in value, resulting in a significantly lower market value than the one listed on your balance sheet....
Business Fixed Assets Are Subject to MACRS Depreciation. What Is That & How Does It Work? MACRS is an IRS structure required for calculating depreciation on assets. As you would expect from the IRS, the MACRS depreciation system is complex and it punishes...
Here’s a Great Way Commercial Real Estate Investors Can Lower Their Real Estate Transfer Tax Burden The real estate transfer tax is levied when real property, including commercial real estate, changes hands. There are only about a dozen states that don’t have a...
Add Up Your Savings on New or Past Projects with the Cost Segregation Savings Calculator As a real-estate investor or developer, you already have the innate ability to spot a great deal. However, you may not know the ins and outs of cost segregation, the tax strategy...
Recover Overpayments from Previous Years and Lower Your Next Quarterly Estimated Tax Bill by Taking Advantage of Laws for Tax Deductions Ending December 2022 The CARES Act of 2020 significantly changed tax depreciation allowances for retail businesses under the...
Big Changes Are Coming to the 179D Energy Tax Deduction in January 2023 On Tuesday, August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law – one of the most sweeping climate bills ever created. The IRA is a massive piece of...
Read About Cost Segregation for New Construction BEFORE Moving Forward with Your Project When your business is planning new construction, you have a lot of details to track. The process see-saws from grindingly slow to exhaustingly fast, which makes it likely you will...
The past few years have brought considerable changes to the tax codes. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Tax Cuts and Jobs Act (TCJA), and Energy Policy Act (EPACT) offer immense opportunities for companies to accelerate or increase...
It’s financial reporting and tax time. Do you want more write-offs to offset income? Are you struggling to get more cash flow? Are you mired too deeply in other activities to do something about this? Let us help you. Here are nine Cash Flow Planning Tips that are sure...
In an effort to encourage commercial investment and stimulate the economy, the Tax Cuts and Jobs Act of 2017 (TCJA) and the Coronavirus Aid, Relief, Economic Security Act of 2020 (CARES Act), allow for additional and/or accelerated depreciation tax deductions. These...
Savvy tax professionals are familiar with different methods for accelerating tax depreciation, but not all are familiar with cost segregation. “What is Cost Segregation?” is a question that we hear from even the most seasoned tax people. Or they might be familiar with...
Implementing a complete fixed asset management solution increases return on investment (ROI) through tax and insurance savings, and productivity improvements – and generates valuable cash flow for the company. Pitfalls of Poor Asset Management Many companies overpay...
You may know that cost segregation can help to reduce your tax liability. But did you know that not all cost segregation studies are created equal? The IRS prefers accounting-based studies, because, of course, your tax liability is higher – and you pay them more...
One of the fallouts of the COVID pandemic is the influx of distressed commercial properties for sale. This is especially true for the industries hardest hit by the resulting lock downs and ensuing recession, such as hospitality and retail. People had to shelter in...
The process of managing a fixed asset begins before the asset is acquired. Companies and their fixed asset managers need to think about the entire fixed asset lifecycle – from acquisition to transfer and ultimately disposal. Unfortunately, that isn’t always the case....
Ghosts and Zombies. Yikes! They’re two hidden enemies – and not just in the movies. Many companies are familiar with the concepts of ghost and zombie assets, but fail to fully grasp the depth of the risks they pose to an organization. What are Ghost and Zombie Assets?...
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