Monthly Archives: April 2011

What is Chattel?

To put it simply, “chattel” is personal property (Section 1245). It can also be thought of as movable property (comes from the French) in contrast to immobile property – the land and the buildings (i.e. the house itself). Chattel in … Continue reading

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Is Cost Segregation Legitimate?

Cost Segregation is not only legitimate but, in fact, it’s basis for existence is rooted in MACRS, or Modified Accelerated Cost Recovery System, the preferred method of depreciation required by the IRS.  Prior to MACRS, however, was ACRS or Accelerated … Continue reading

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Is my gift of property or other assets taxable?

If you gift someone money or property during your life, you may be subject to the federal gift tax. Most gifts aren’t subject to the gift tax, however, the IRS has compiled a list of the following eight tips to … Continue reading

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How can I save on my income taxes?

Tax time is almost over…at least for Round 1!  For those who own commercial buildings or residential rental property and you just wrote a big check to pay your federal income taxes, above what you’ve already contributed in your quarterlies…are … Continue reading

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