Real Estate

/Real Estate

Dean Dorton Merges with Barr Anderson & Roberts, PSC

Dean Dorton Allen Ford, PLLC (Dean Dorton) has expanded its presence in Kentucky by merging in Barr Anderson & Roberts, PSC (BAR), a long-standing CPA and advisory firm located in Lexington, KY. The merger will be [...]

Leased Property Rules

There are specific rules related to leased property outlined in the new tangible asset regulations, specifically related to unit of property.  As a reminder, the unit of property is the cornerstone by which taxpayers now [...]

March 17th, 2015|Real Estate|

Self-Rental and Net Investment Income Tax

For tax years beginning after January 1, 2014, there are final regulations in effect which address the application of the net investment income tax (additional 3.8% on investment income, also referred to as “Medicare Tax”) [...]

February 11th, 2015|Real Estate, Tax|

Valuable Tax Savings Imbedded in Buildings

If you own real estate and pay federal income taxes, you can benefit from the results of a cost segregation study.  A cost segregation study is an analysis performed by trained professionals to identify property [...]

January 23rd, 2015|Real Estate|

Written Capitalization Policy Due January 1, 2015

REMINDER! To qualify for expensing items under the new de minimis safe harbor regulations, you must have a written capitalization policy in place on the first day of your taxable year. If you do not [...]

December 29th, 2014|Real Estate|

“Hello, This is the IRS.”

How to Avoid IRS Scams Most of us try to avoid run-ins with the Internal Revenue Service. We file our tax returns, pay our taxes and, generally, keep our noses down and accounts in good order [...]

December 5th, 2014|Real Estate, Tax|

Tangible Asset Regulations: Overall Impact for the Taxpayer

This week concludes our six-part email series on the new tangible asset regulations which are generally effective for tax years beginning after 1/1/14 and impacts any taxpayer with capitalized assets or supplies.  The following is [...]

December 4th, 2014|Real Estate, Tax|

Tangible Asset Regulations Part 6: Repairs vs. Improvements

The new Tangible Asset Regulations (TARS) implements three new tests to determine whether expenditures related to a unit of property (UOP) should be capitalized or expensed. The three tests are the betterment test, the restoration [...]

November 26th, 2014|Real Estate|

Tangible Asset Regulations Part 5: Unit of Property – Non-Building

The rules for Units of Property – Non-Building, the fifth topic in our series, define that a single Unit of Property, for property that is not a building, includes components that are functionally interdependent. Functionally [...]

November 20th, 2014|Real Estate|

Tangible Asset Regulations Part 4: Building Systems

The rules for Building Systems, the fourth topic in our series, clarify that a building has nine different units of property when determining if an expenditure is a capitalized improvement or a deductible expense. The [...]

November 13th, 2014|Real Estate|