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April 1, 2020

The CARES Act stimulus package creates favorable opportunities to generate or enhance losses for your clients with significant depreciable property. Some highlights include:
 

  • NOLs generated in 2018-2020 can be carried back five years.
     

  • Losses carried back w...

January 22, 2020

The US Tax Court once again confirms a positive environment for companies looking to claim R&D Tax Credits.  The latest court case reinforced the current law surrounding the definition of funded research.  Click here for our summary of the case Populous Holdings,...

December 22, 2019

On December 20, 2019, a new spending bill with tax extenders was signed into law. The tax provisions include a retroactive extension of both the 179D Energy-Efficient Commercial Buildings Deduction and the 45L Energy-Efficient Home Credit. Both of these provisions had...

November 13, 2019

Over the past week there were several developments in the area of tax depreciation. These changes range from inflation-adjusted limits to new IRS audit guidance to the latest information on depreciation-related tax accounting method changes. Click here for our analysis...

November 5, 2019

Following passage of the Tax Cuts and Jobs Act (TCJA), tax professionals have questioned whether the identification of tangible personal property, in cost segregation studies, now negatively affects like kind exchanges. Under 13303 of the TCJA, 1031 now restricts like...

September 16, 2019

On Friday, September 13, the IRS released advance copies of final 100 percent bonus depreciation regulations and new, proposed 100 percent bonus depreciation regulations. Treasury Decision 9874 contains the final regulations for many TCJA 100 percent bonus depreciation...

August 5, 2019

On July 31, 2019, the IRS released Rev. Proc. 2019-33. This revenue procedure allows taxpayers to make or revoke certain elections for bonus depreciation under the Tax Cuts and Jobs Act of 2017 (TCJA) for the 2016 and 2017 tax years. The late and revoked elections crea...

July 25, 2019

The Tax Cuts and Jobs Act (TCJA) of 2017 increased the §179 expensing limit, but it also created additional opportunities related to § 179. Read about the opportunities as well as the nuances of active trades or businesses here.

January 28, 2019

The R&D tax credit can help companies generate much needed cash flow by offsetting taxes owed or paid. Click here to learn more.

January 28, 2019

Many people think that R&D tax credits only apply to companies that require lab coats to be worn at the office. But the definition has evolved greatly over the years to include not only companies that manufacture and develop software, but companies in various other ind...

January 25, 2019

For tax year 2017 and forward, companies spending significant research dollars in Minnesota can now claim larger tax credits. For each incremental dollar of R&D expenses over $2 million, the credit was increased from 2.5 percent to 4 percent.   However, for a company’s...