Archive: depreciation

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The Updated Basics of Federal Grants and Single Audit Compliance

Carol Barnard, a senior manager in Aronson’s Nonprofit & Association Services Group, will host a webinar titled, “The Updated Basics of Federal Grants and Single Audit Compliance,” on Tuesday, June 4th. Navigating the new terrain of federal grant requirements can be complex and confusing. This information will help both federal grant recipients as well as […]
June 4, 2019

Hotel and Restaurant Owners: Renovations Equal Tax Depreciation Deductions

As 2017’s tax year begins to wind down, hotel and restaurant owners will be able to take advantage of a variety of tax depreciation incentives. These tax deductions can be substantial if a hotel and restaurant owner purchases a high quantity of fixed assets, or if a major buildout or refurbishment project for their property is […]
November 22, 2017

Real Estate Taxes—IRC 1031 Exchange

IRC 1031 can be a great tool for owners of certain types of property that have appreciated in value, but that owners would like to exchange for similar property without recognizing the gain and paying the associated real estate taxes. For example, upon the sale of real property, a real estate investor is required to […]
November 20, 2017

Tax Tip: Home Office Deduction Safe Harbor

In a newly issued Revenue Procedure 2013-13, effective for tax years starting on or after 1/1/2013, the IRS has created a safe harbor for the home office deduction calculation. The safe harbor is $5 times the home office square footage, for a maximum of $1,500. The safe harbor is in lieu of the substantiation of […]
January 28, 2013

Fixed Asset Acquisition Planning for 2012

Construction Contractors that are planning to acquire fixed assets should consider doing so before the end of 2012.  After 2012, two significant tax benefits will diminish or be completely eliminated. Section 179 depreciation For tax years beginning in 2012 taxpayers may expense, in lieu of capitalizing and depreciating, up to $139,000 of qualified property, generally […]
July 5, 2012
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Tax Incentives for Contractors – Fixed Asset Acquisitions

The recently enacted included a wide-ranging assortment of tax changes generally affecting business. Two of the most significant changes allow for faster cost recovery of business property.  These consisted of enhanced expensing under Section 179 and an extension of 50% bonus depreciation. The bonus depreciation provisions, however, quickly became outdated with the enactment of the […]
June 17, 2011
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