Articles, tagged with "cost basis", page 1
President Obamas Proposed Income Tax Changes For 2011
The marital deduction is an important estate planning tool. It provides that any assets passing to a surviving spouse pass tax free at the time the first spouse dies (assuming the surviving spouse is a U.S. citizen). However, the marital deduction ends af...
History of Cost Segregation
Cost segregation evolved as the result of multiple court cases and IRS rulings. The body of knowledge is summarized in the Audit Techniques Guide (ATG), published by the IRS.
Component depreciation was a prior methodology that produced similar results ...
Cost Segregation - Tax Deductions (Take every legal tax deduction you can)
Tax Rule No.1: Don’t cheat the IRS. But that doesn’t mean you should cheat yourself. Take every legal tax deduction you can.
In addition to the numerous tax deductions the Internal Revenue Service allows, research indicates that most U.S. taxpayers do ...
Abandonment Study Yields Tax Reduction
An abandonment study can legitimately generate a windfall of depreciation for the owner of investment or owner-occupied real estate. By increasing depreciation, substantial tax reduction can be effected. An abandonment study is appropriate when it is nece...
Tax Reduction Affected by Cost Segregation
Tax reduction is just one of the benefits of cost segregation. Many real estate owners and tax preparers believe cost segregation simply defers payment of taxes. While they recognize it effectively generates an interest-free loan from the government, they...
Increase Your Cash Flow by Using Component Depreciation
The IRS realizes that an investment property will not last forever so the government allows investors to deduct an amount as depreciation to allow them to recoup their investment. Depreciation is the loss in value of an investment property over time due t...
Arcane Income Tax Tip
Sam sold 2 commercial properties in June 2008 and was discussing tax planning with his CPA and cost segregation provider. The sales price for the properties was $5.2 million and $3.3 million. Sam had owned both properties for about 8 years. The cost se...
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