Businesses frustrated by regulations and heavy tax burdens often perceive their own interests as at odds with those of the government. But there is at least one facet of the tax code at which the interests of private businesses and the government converge, saving both billions of dollars per year: the Federal Work Opportunity Tax [...]
“Research and development:” the words tend to evoke images of microscopes, test tubes, and laboratories abuzz with scientists who spend their days unearthing groundbreaking discoveries or inventing world-changing products. With these images in mind, many businesses wrongly assume that they do not qualify for the Research and Development Tax Credit, a federal tax incentive that [...]
Google We are often asked about whether or not there are tax advantages available to owners of existing buildings who undergo HVAC condenser service treatments that produce cooling systems rated for 10 years of efficiency. The short answer is unfortunately NO, but the long answer is much more pleasant than that. While simple servicing does [...]
Google What is a Carbon Tax? First of all, lets clarify what exactly a “carbon tax” is. Starting with the first word in that politically weighted phrase, carbon is a substance that can be found in all hydrocarbon-based fuels like coal, petroleum, and natural gas. When these fuels are burned for energy, the carbon is [...]
Google As a result of tangible property regulations passed at the beginning of this year, cost segregation studies have become a popular and effective part of a property owner’s annual tax saving strategy. From its beginnings as an IRS legal memorandum, the practice of employing cost segregation studies in the accounting community has grown and [...]
Google By Rich Maiolo, Director of Business Development The recent release of the IRS regulations Tangible Property Regulations - 080713 v1 and IRS Revenue Section 263(a) define the tax differences between repairs or maintenance and replacement of long life building systems and components. How do these regulatory changes apply to commercial building owners that are considering [...]
Google As many people know, federal tax law is created in part by the Internal Revenue Code (IRC) enacted by Congress in title 26 of the United States Code. For that reason, it is constantly changing and shifting with each legislative session and may often be difficult and complicated to keep up with. This year, [...]
Using engineering, design and costing to seize tax savings strategies such as §179D, Tangible Property, Cost Segregation
Google To a commercial building owner, it is always important to reduce operating costs and an important strategy to achieve reductions is to implement energy efficiencies. In terms of climate/thermal controls, this can mean investment in combinations of energy efficient systems and innovative passive heating and cooling designs like well-placed windows and walls. The key [...]
We are asked almost daily by someone if we think §179D will return soon. The past few weeks have seen some positive activity on Capitol Hill regarding a long-awaited tax extenders package. However, with midterms fast approaching there is little chance until perhaps 2016 for efficiency incentives to return. In addition, there are two competing proposals: The Senate Finance [...]
