PROSPECTS FOR U.S. TAX REFORM IN 2017 January 26, 2017

With the surprising election of Donald Trump, and Republicans in control of both the House and Senate, the prospects for a major U.S. tax overhaul took a giant step forward recently.  Or did they? An interesting procedural anomaly may slow the pace of the aggressive strategy endorsed by the new President.  Tax legislation starts in Congress, not with the President (who certainly has influence...

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IRS Accelerates Business Tax Due Dates January 10, 2017

In an effort to assist individual taxpayers in getting timely information to help them prepare their tax returns, Congress has enacted legislation which accelerates the due dates of certain tax forms.  Starting this year, businesses which file Form 1099-MISC to report nonemployee compensation will need to send those 1099s to both the recipients AND the IRS by January 31, 2017.  Late filers could...

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Tax Planning With Cost Segregation and Bonus Depreciation December 15, 2016

For businesses or investors that acquire, construct, or substantially improve depreciable real estate, cost segregation studies can provide significant financial benefits. These studies apply engineering and cost accounting principles to identify costs that can be reallocated to asset classes with shorter depreciable lives. A cost segregation study can also enhance the benefits of bonus depreciati...

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Asset Protection: Is Your Real Estate Safe? September 28, 2016

When it comes to protecting your assets, real estate presents a significant challenge. Unlike other types of assets — such as stocks, bonds, and bank accounts — real estate can’t be moved to another jurisdiction. If you’re concerned about your real estate’s vulnerability to creditors’ claims, here are several strategies to consider. As you review these techniques, be mindful of frau...

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