Great Article. Sound familiar? The first and perhaps the most predominant area of concern is the hesitation to adopt new technology. Accounting has always been looked upon as a miserable and boring job. Accountants bear a scar of being “bean counters” that are only concerned with figures, and with the hesitation they
The rules keep changing. Are you keeping up? Or better yet, are you still ahead? Several smaller Brown Smith Wallace clients that own single buildings also have enjoyed additional tax deductions by, for example, replacing roofs. They are now able to write off the remaining basis of the old roof for more than $10,000
Alliteration not intened – just a bonus! Are your clients buying commercial real estate? Pay attention. In July of 2013, the the Eleventh Circuit affirmed the Tax Court’s decision to disallow a taxpayer’s attempt to change purchase price allocations for a cost seg study. The decision further clarified several critical issues you need to be
Quickbooks online??? For 32 years, we had navigated technology platform shifts — from DOS, to Windows, to the web. Through each, we had seized the opportunity to reimagine our offerings and extend our market leadership. We knew at some point the move to a recurring revenue model would be the right one for our customers
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Accounting firms looking to grow their practice and offer valuable tax deferral strategies can do so with Titan Echo Cost Segregation Solution. These tax deferral strategies historically have been beyond the reach of the vast majority of taxpayers, but Titan Echo enables CPAs to bring the benefits of cost segregation to all their clients. The
Press Release – Titan Echo Now Makes It Easy to Benefit from the IRS Tangible Property Regulations (TPR)
Titan Echo announced the launch of their new Tangible Property Regulations (TPR) tool, Titan Echo TPR Solution (for UoP and Partial Disposition). Denver, CO, United States – March 5, 2015 Titan Echo has released its new software solution to help CPAs and their clients benefit from the IRS Final Tangible Property Regulations. The IRS has
Cost Segregation – A Useful Tool for CPAs A common depreciation scheme for a real estate purchase is to incorporate the entire cost of the building into a 39-year straight-line depreciation schedule. The cost segregation approach to depreciation provides a money-saving alternative that can lower tax bills and increase cash flow. Under cost segregation, the
Partial Disposition Prevents Simultaneous Depreciation Partial disposition refers to the disposition of part of a larger asset separately from the remainder of the asset, typically when a portion of the asset is replaced before the entire asset is depreciated. The IRS adopted partial disposition rules for Modified Accelerated Cost Recovery System (MACRS) assets with the
Titan Echo’s pricing is favorable to other cost segregation service firms that we have been exposed to, and tax preparers need to be aware of the benefits cost segregation studies provide to their clients.
Jay Reddon, CPAPartner | Reddon, Koehn & Associates