Cost segregation delivers income tax credits for Gulfside Dental
Cost segregation delivers income tax credits for Gulfside Dental partners.
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Cost segregation delivers income tax refund for Fresh Dental
Cost segregation delivers income tax refund for the dentists at Fresh Dental. After meeting with Dentist partners at Fresh Dental in Bossier City, LA, I had the privilege of completing a site survey of the facility. They had heard from their CPA that cost segregation could help them out. It is a kid-friendly office with…
Bliss Dental Uses Cost Segregation to Accelerate Depreciation
Bliss Dental Uses Cost Segregation to Accelerate Depreciation. At Bliss Dental the kids and family are treated like royalty! It’s a fun staff who knows how to take care of their patients. I had the pleasure of conducting a site survey on this facility and was impressed with the amount of tangible personal property within.…
Year-end tax planning moves forward with or without Congress
Regardless of elections, year-end tax planning moves forward…with or without Congress. The fate of many of the tax incentives taxpayers have grown accustomed to over recent years will likely remain up in the air until Congress and the Administration finally face off weeks before year-end 2012. While the results of Election Day will have bearing…
1031 Exchange Year-end Tips
Here’s a couple year-end tips if you are considering a 1031 exchange. Did you know that if you open a 1031 exchange and your Accommodator is holding your funds before the New Year you get to defer any capital gain taxes due until 2014, even if you cancel your 1031 exchange? Since the 1031 exchange…
Deducting Charitable Contributions: Eight Essentials
Deducting charitable contributions is quite often tricky, but the eight essentials shared below will guide you. Donations made to qualified organizations may help reduce the amount of tax you pay. With that in mind, here are eight tips to help ensure your charitable contributions pay off on your tax return. 1. If your goal is…
How do I compute gain in a like-kind exchange when some cash is received?
When you receive cash other than the like-kind property in a like-kind exchange, the cash is treated as “boot.” Boot does not render the transaction ineligible for non-recognition treatment but it does require you to recognize gain to the extent of the cash received. The same is true for other non-like-kind property in a like-kind…
HSA Accounts are Tax Deductible!
Contributions to HSA accounts are tax-deductible. Earnings, such as interest and dividends, in the (HSA) health savings account are tax-exempt at the federal level. Withdrawals from a HSA are tax-free as long as the funds are used for qualified medical expenses. (See IRS Publication 502, Medical and Dental Expenses for what counts as qualified medical…
Year-end tax planning amid legislative uncertainty
As 2013 draws closer, news reports about “taxmageddon” and “taxpocalypse,” describing expiration of the Bush-era tax cuts, are proliferating. Many taxpayers are asking what they can do to prepare. The answer is to prepare early. September may seem too early to be discussing year-end tax planning, but the uncertainty over the Bush-era tax cuts, incentives…
What Methodology is Required by the IRS for Cost Segregation?
What Methodology is Required by the IRS for Cost Segregation? Neither the Service nor any group or association of practitioners has established any requirements or standards for the preparation of cost segregation studies. The courts have addressed component depreciation, but have not specifically addressed the methodologies of cost segregation studies. The Service has addressed this…
