Jeff Hobbs – Page 2 – Segregation Holding

6 Clever Tips to Keep in Mind Before Purchasing Your First Real Estate Property

By Jeff Hobbs May 5, 2017

Buying your first real estate property, whether it’s a residential or commercial property, is a major milestone in life. Also, you’ve probably allocated a fortune for this big move, which means you wouldn’t want to lose any of your hard-earned cash. To make sure you are making the right decision, here are important tips to…

3 Basic Strategies for Reducing Your Taxes

By Jeff Hobbs July 29, 2015

The goal of tax planning is to arrange your financial affairs so as to minimize your taxes. There are three basic ways to reduce your taxes. Source: 3 Basic Strategies for Reducing Your Taxes

Does Section 1245 Property Include Real Property?

By Jeff Hobbs July 29, 2015

Does Section 1245 Property Include Real Property? Section 1245 property does include personal property. Assets such as computers, desks, chairs, copiers, etc. are all personal property falling under Section 1245. However, Internal Revenue Code Section 1245 does include real property assets. Let’s have a look. Section 1245 Property as Real Property The property must be…

S Corp Employment Taxes | Avoid Double Taxation

By Jeff Hobbs July 28, 2015

Learn how to avoid double taxation and lower your employment tax liability by forming an S corporation. Source: S Corp Employment Taxes | Avoid Double Taxation

What Is the IRS Depreciation Schedule for Commercial Real Estate?

By Jeff Hobbs July 28, 2015

What Is the IRS Depreciation Schedule for Commercial Real Estate? Commercial real estate is an asset qualifying for depreciation. It cannot be expensed as an ordinary method of write-off. However, in 2011, the US Congress passed legislation that allowed for 100% bonus depreciation on commercial real estate. In effect, this allowed for full expensing of…

Income Tax Deduction and Other Tax Benefits

By Jeff Hobbs July 27, 2015

Donor advised funds (DAFs) provide an immediate income tax deduction as well as four other tax benefits. Source: Income Tax Deduction and Other Tax Benefits from Donor Advised Funds

Does Owning Rental Property Help With Taxes?

By Jeff Hobbs July 27, 2015

Does owning rental property help with taxes? In a word, yes! There are many ways to save on taxes, but owning rental property will definitely do so. Here are 3 categories where owning rental property will help. Accelerated Depreciation Accelerated depreciation uses the Modified Accelerated Cost Recovery System (MACRS) method of depreciation. This allows the…

How does owning Rental Property affect taxes?

By Jeff Hobbs July 23, 2015

How does owning Rental Property affect taxes? Beach House >Many people own rental property. Residential rental property includes a single-family house, duplex, triplex, quad-plex, and, of course, apartments of all sizes. Rental property can also include commercial property. This can include all types of properties such as office building, retail, warehouse, and more. If you…

What are the new Tangible Property Regulations?

By Jeff Hobbs July 22, 2015

What are the new tangible property regulations? Many of you know, and just as many don’t know, there are new tangible property regulations. The IRS has been working on these tangible property regulations over 4 years. They were finalized and enacted last January, 2014, just to be rescinded last fall. In effect, the accounting community…

Depreciation Recapture

By Jeff Hobbs July 21, 2015

What is Depreciation Recapture? When a taxpayer purchases a tax-deductible asset for use over several years, the taxpayer can deduct a percentage of the asset’s value from his or her yearly taxable income over the life of the asset. (See IRC §§ 167, 168 and the IRS tables of class lives and recovery periods). The…