Cost Segregation Studies Gone Wrong

For many, rapidly accelerating the depreciation on a commercial building by utilizing a cost segregation study is a no-brainer. Commercial properties are depreciated over 39 years by default, which is an awfully long time to recover the tax benefits of your cost. If you can frontload those deductions, it only makes economic sense. Right? Well,[ … ]

Work Opportunity Tax Credits

Must Act Fast! The recent Protecting Americans from Tax Hikes Act of 2015 (the PATH Act) retroactively extended the expiring Work Opportunity Tax Credits (WOTC) credits from January 1, 2015 through December 31, 2019. These credits are based on hiring certain targeted individuals including veterans, those that receive food stamps, and those who live in[ … ]

You don’t have to be a manufacturer to take the “manufacturers’ deduction”

The manufacturers’ deduction, also called the “Section 199” or “domestic production activities deduction,” is 9% of the lesser of qualified production activities income or taxable income. The deduction is also limited to 50% of W-2 wages paid by the taxpayer that are allocable to domestic production gross receipts. Yes, the deduction is available to traditional manufacturers.[ … ]