Update: Senate Launches Effort to Renew §179D Deduction and Other Tax Extenders

The Senate Finance Committee recently launched an initiative that would renew the tax extenders—or temporary tax incentives, including the §179D deduction for energy-efficient commercial buildings, that have expired in the past few years. The tax extenders were never permanent parts of the tax code, but historically would lapse at the end of each year and […]

Using Life Insurance Retirement Plans (LIRPs) as a Tax Diversification Strategy

In planning for retirement, most investors are familiar with the concept of diversification as a way to minimize the volatility of their portfolios over time. However, another important financial strategy is often overlooked: tax diversification. By leveraging tax diversification through the use of tax-free assets, such as life insurance retirement plans (LIRPs), investors can build […]

The Impact of Cost Segregation Studies on Historic Tax Credit Claims

The federal tax code provides several incentives and strategies that allow commercial building owners to reduce their tax burdens. Among the most powerful of these strategies is Cost Segregation, which enables building owners to claim accelerated depreciation deductions by simply reclassifying certain real property assets as personal property. Another provision called the Historic Tax Credit […]

Opportunity Zones Offer a Powerful Way to Reduce Taxes—Here’s What Investors Need to Know

The Tax Cuts and Jobs Act—the sweeping tax reform law enacted in December 2017—has garnered significant attention for drastically lowering the corporate tax rate and expanding incentives for individuals and businesses. However, one lesser-known feature of the new tax law is the Investing in Opportunity Act, which established the Opportunity Zone program.  Created with the […]

An End-of-Year Checklist for Minimizing Your Business Tax Burden in 2018

As the year quickly draws to a close, the time has come for businesses to start the onerous process of preparing for tax season. Although the end of the year tends to be hectic, it is crucial to begin gathering paperwork and planning strategies in order to reduce your business’s 2018 tax burden. Recent changes […]

10 Frequently Asked Questions About the Research and Development (R&D) Tax Credit

From manufacturing companies streamlining processes to architecture firms developing innovative building plans, businesses in a wide variety of industries routinely conduct research and development (R&D) activities. Unfortunately, however, many of these businesses do not realize that they may qualify for the R&D Tax Credit, a dollar-for-dollar federal tax credit that offers a powerful way for […]

Supreme Court Rules that States May Require Online Retailers to Collect Sales Tax

On June 21, the Supreme Court issued a ruling that overturned a 26 year-old precedent and will impose a costly compliance burden on numerous businesses that sell goods online. The Court’s 5-4 decision in South Dakota v. Wayfair held that states may require online retailers to collect sales taxes on internet purchases—even if the retailer […]

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