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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...

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...

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 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...

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