Avoid Counting on Depreciation Too Early with Placed-In-Service Rules

“Don’t count your chickens before they hatch” is an adage that reminds us to be wary of putting our hope in something that has not yet happened. This phrase is especially true when it comes to depreciation. Although when depreciation begins on an asset may not always be clear, the consequences of an early start [...]

2018-11-12T15:42:45-06:00May 24th, 2018|TAX SPECIALTY SERVICES|

Will Your Cost Segregation Methodology Hold Water With the IRS?

Many business owners already know that cost segregation is a strategic tax analysis that reclassifies property costs to shorter depreciable periods, potentially yielding substantial tax benefits. They may also know that those depreciation adjustments could open them up to IRS scrutiny and, in turn, lead to a torrent of back taxes and penalties. What they [...]

2018-11-12T15:43:45-06:00November 26th, 2017|TAX SPECIALTY SERVICES|