Category Archives: Cost Segregation

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

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 … Continue reading

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3 Basic Strategies for Reducing Your Taxes

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

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Does Section 1245 Property Include Real Property?

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 … Continue reading

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S Corp Employment Taxes | Avoid Double Taxation

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

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What Is the IRS Depreciation Schedule for Commercial Real Estate?

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 … Continue reading

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Income Tax Deduction and Other Tax Benefits

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

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Does Owning Rental Property Help With Taxes?

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 … Continue reading

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How does owning Rental Property affect taxes?

How does owning Rental Property affect taxes? 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 … Continue reading

Posted in Accountant, Accounting, Apartments, Commercial Real Estate, Cost Segregation, CPA, Income Tax, Income Taxes, Multifamily, Tax Deductions, Tax Planning | Leave a comment

What are the new Tangible Property Regulations?

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 … Continue reading

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Depreciation Recapture

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 … Continue reading

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