Depreciation
Consider a Repair and Maintenance Study to Recover Taxes and Improve Cash Flow
Repair and maintenance expenses are currently tax deductible. Capital costs are not. Through a Repair and Maintenance Study (also known as a Sec. 263(a) Study), you may be able to achieve significant tax savings by reclassifying assets improperly treated as capital expenses. In particular, companies operating in a number of industries may benefit from a Repair and Maintenance Study. These will include many in the banking, retail, hospitality, manufacturing, pharmaceutical, warehouse, auto retailers, distribution and utility industries who regularly refurbish or freshen their stores or facilities. These rules will benefit virtually all capital-intensive companies that invest significant dollars on recurring. Read More.
Examining the “Taxonomics” of Tenant Allowances
Commercial leases often include certain considerations for negotiated tenant allowances without considering the full tax burden of those considerations. In a recent guest column for Commercial Property Executive , CB&H’s Bill Becker examines the potential impact of tenant allowances on all parties involved. Tenant allowances can take the form of direct cash payments made by the property owner or an agreement to accept lower rent payments in future years. When an allowance is granted, there are two primary tax issues facing the property owner: 1) if the allowance will be reportable as taxable income in the year it is granted; and 2) whether or not. Read More.
New Law Extends Tax Relief, Including Energy-Efficient Property Provisions
Key Provisions of the Tax Relief Act of 2010 Incentives for Individuals Federal Estate & Gift Taxes Incentives for Businesses On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, or H.R. 4853 (hereafter, “the Act”). The bipartisan legislation extends for two additional years many of the so-called “Bush-era tax cuts” originally enacted under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Key provisions of the new law extend the individual and capital gains/dividend tax cuts for all taxpayers through 2012, enact a payroll tax cut for 2011, provide a two-year AMT patch, establish a top estate. Read More.
New Law Extends Tax Relief, Reinstates Estate & Gift Tax
Key Provisions of the Tax Relief Act of 2010 Incentives for Individuals Federal Estate & Gift Taxes Incentives for Businesses On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 , or H.R. 4853 (hereafter, “the Act”). The bipartisan legislation extends for two additional years many of the so-called “Bush-era tax cuts” originally enacted under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Key provisions of the new law extend the individual and capital gains/dividend tax cuts for all taxpayers through 2012, enact a payroll tax cut for 2011, provide a two-year AMT patch, establish a top estate tax rate of 35 percent with an exclusion of $5. Read More.
New Tax Relief Act Extends Bush-Era Tax Cuts, Includes Business Incentives
Key Provisions of the Tax Relief Act of 2010 Incentives for Individuals Federal Estate & Gift Taxes Incentives for Businesses On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 , or H.R. 4853 (hereafter, “the Act”). The bipartisan legislation extends for two additional years many of the so-called “Bush-era tax cuts” originally enacted under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Key provisions of the new law extend the individual and capital gains/dividend tax cuts for all taxpayers through 2012, enact a payroll tax cut for 2011, provide a two-year AMT patch, establish a top estate tax rate of 35 percent with an exclusion of $5. Read More.
Small Business Jobs Act Offers Tax Incentives for Businesses of All Sizes
On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010, or H.R. 5297 (hereafter, “the Act”). Though many of the Act’s provisions focus on small businesses, the new law also contains tax incentives that apply to all businesses as well as new retirement savings incentives for individuals. It is important to note that some of these provisions offer taxpayers a very small window of opportunity, requiring action before the end of the year to take advantage of the savings. The Act enhances and extends a number of tax incentives that were originally included in. Read More.
