What Businesses and Commercial Building Owners Should Know About the CARES Act

As the COVID-19 pandemic has forced countless businesses across the country to curtail operations, the U.S. government recently passed a massive stimulus package designed to minimize economic devastation: the Coronavirus Aid, Relief and Economic Security (CARES) Act. This $2 trillion measure offers both direct financial aid and various forms of tax relief in order to [...]

By |2020-05-15T11:32:36-07:00May 15th, 2020|Uncategorized|Comments Off on What Businesses and Commercial Building Owners Should Know About the CARES Act

Tax Code Offers Relief for Businesses Facing Financial Distress Due to the Coronavirus Pandemic

Over the course of a few short months, the novel coronavirus (COVID-19) has rapidly spread around the world, infecting hundreds of thousands of people and wreaking havoc on the global economy. In an effort to remain solvent, businesses in nearly every industry are faced with devastating decisions, from laying off employees to halting operations—at least [...]

By |2020-03-24T12:09:12-07:00March 24th, 2020|Uncategorized|Comments Off on Tax Code Offers Relief for Businesses Facing Financial Distress Due to the Coronavirus Pandemic

Update: Section 179D Deduction Extended Through 2020

Commercial building owners and designers received a lucrative gift this holiday season. On December 20, 2019, President Trump signed into law the Further Consolidated Appropriations Act, 2020, a $1.4 trillion spending package that renewed various tax extenders, including the §179D deduction for energy-efficient commercial buildings. The §179D deduction—which offers tax savings of up to $1.80 [...]

By |2020-05-15T11:35:31-07:00December 30th, 2019|Uncategorized|Comments Off on Update: Section 179D Deduction Extended Through 2020

Update: Senate Launches Effort to Renew §179D Deduction and Other Tax Extenders

The Senate Finance Committee recently launched an initiative that would renew the tax extenders—or temporary tax incentives, including the §179D deduction for energy-efficient commercial buildings, that have expired in the past few years. The tax extenders were never permanent parts of the tax code, but historically would lapse at the end of each year and [...]

By |2019-07-03T17:45:21-07:00July 3rd, 2019|Uncategorized|Comments Off on Update: Senate Launches Effort to Renew §179D Deduction and Other Tax Extenders

Using Life Insurance Retirement Plans (LIRPs) as a Tax Diversification Strategy

In planning for retirement, most investors are familiar with the concept of diversification as a way to minimize the volatility of their portfolios over time. However, another important financial strategy is often overlooked: tax diversification. By leveraging tax diversification through the use of tax-free assets, such as life insurance retirement plans (LIRPs), investors can build [...]

By |2019-07-03T17:14:11-07:00July 3rd, 2019|Uncategorized|Comments Off on Using Life Insurance Retirement Plans (LIRPs) as a Tax Diversification Strategy

The Impact of Cost Segregation Studies on Historic Tax Credit Claims

The federal tax code provides several incentives and strategies that allow commercial building owners to reduce their tax burdens. Among the most powerful of these strategies is Cost Segregation, which enables building owners to claim accelerated depreciation deductions by simply reclassifying certain real property assets as personal property. Another provision called the Historic Tax Credit [...]

By |2019-05-23T06:41:30-07:00May 23rd, 2019|Uncategorized|Comments Off on The Impact of Cost Segregation Studies on Historic Tax Credit Claims

Understanding the Section 45S Employer Credit for Paid Family and Medical Leave

In September 2018, the IRS issued Notice 2018-71 providing guidance on a lesser-known feature of the Tax Cuts and Jobs Act: the Section 45S Employer Credit for Paid Family and Medical Leave. Created as a way to incentivize businesses to continue paying employees who are out of work to care for family members, Section 45S [...]

By |2019-04-20T05:11:56-07:00April 20th, 2019|Uncategorized|Comments Off on Understanding the Section 45S Employer Credit for Paid Family and Medical Leave

Opportunity Zones Offer a Powerful Way to Reduce Taxes—Here’s What Investors Need to Know

The Tax Cuts and Jobs Act—the sweeping tax reform law enacted in December 2017—has garnered significant attention for drastically lowering the corporate tax rate and expanding incentives for individuals and businesses. However, one lesser-known feature of the new tax law is the Investing in Opportunity Act, which established the Opportunity Zone program.  Created with the [...]

By |2018-12-29T06:35:11-07:00December 29th, 2018|Uncategorized|Comments Off on Opportunity Zones Offer a Powerful Way to Reduce Taxes—Here’s What Investors Need to Know

An End-of-Year Checklist for Minimizing Your Business Tax Burden in 2018

As the year quickly draws to a close, the time has come for businesses to start the onerous process of preparing for tax season. Although the end of the year tends to be hectic, it is crucial to begin gathering paperwork and planning strategies in order to reduce your business’s 2018 tax burden. Recent changes [...]

By |2018-11-15T05:15:54-07:00November 15th, 2018|Uncategorized|Comments Off on An End-of-Year Checklist for Minimizing Your Business Tax Burden in 2018

10 Frequently Asked Questions About the Research and Development (R&D) Tax Credit

From manufacturing companies streamlining processes to architecture firms developing innovative building plans, businesses in a wide variety of industries routinely conduct research and development (R&D) activities. Unfortunately, however, many of these businesses do not realize that they may qualify for the R&D Tax Credit, a dollar-for-dollar federal tax credit that offers a powerful way for [...]

By |2018-10-12T06:04:56-07:00October 12th, 2018|Uncategorized|Comments Off on 10 Frequently Asked Questions About the Research and Development (R&D) Tax Credit