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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,...

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...

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 24, 2019

On January 22, 2019, SourceHOVTax hosted this 1 hour Webinar about the new rules and opportunities for taxpayers with gross receipts under $25 million. Click the links below to watch the video, view the slide deck, and review the attendee questions and answers document...

January 15, 2019

In this one hour CPE eligible presentation, Brian Coddington will discuss the new rules and opportunities for taxpayers with gross receipts under $25 million. This timely and informative session will provide our perspective on the revisions and updates to UNICAP (§263A...

November 19, 2018

On November 5, 2018, the Internal Revenue Service released a practice unit presentation for their Large Business & International division agents. A practice unit is a training module in presentation format used for IRS internal training purposes. This practice unit foc...

November 12, 2018

We are pleased to announce that Michael Warady, CFP, has rejoined our business development team. Having provided more than 25 years of client education and interaction, Michael will focus his attention in the Mid-Atlantic states, helping CPAs and their clients understa...