With the medical use of cannabis products now legal in 37 states and nonmedical (recreational) use legal in 18 states and the District of Columbia, the fast-growing, multibillion-dollar cannabis industry is poised to continue expanding in the coming years. However, since THC, the psychoactive compound in marijuana, remains illegal at the federal level as a [...]
From green building initiatives to creating designs that improve cost efficiency, architects and engineers routinely develop solutions that can enhance quality of life for both their clients and society as a whole. But as they pursue these groundbreaking activities, many architecture and engineering firms overlook the powerful opportunities for tax savings available to them. Specifically, [...]
Buying a commercial building is a major investment that carries several ongoing costs associated with owning and maintaining the building. Fortunately, however, the federal tax code offers a variety of strategies to help offset these costs by reducing your tax burden. For example, the §179D deduction (which was recently made a permanent part of the [...]
For countless businesses, the significant disruptions stemming from the COVID-19 pandemic have caused unprecedented financial challenges this year. Therefore, as 2020 comes to an end and businesses start preparing for tax season, it is crucial to seek opportunities to minimize taxes. The right tax strategy can help businesses save money and boost cash flow, thereby [...]
A Yorba Linda, California hotel that was part of a large, national brand had recently undergone a major renovation. With improvement costs totaling approximately $5.7 million, the hotel was seeking opportunities to reduce its tax burden. After consulting Capital Review Group to identify overlooked tax incentives, our team determined that the hotel was eligible for [...]
As a CPA, helping your clients achieve their financial goals through strategic application of the tax code is an integral part of your mission. However, with frequent changes to state and federal tax law—as well as numerous tax code provisions that are often overlooked or misunderstood—it can be difficult to cut through the confusion and [...]
For commercial building owners, the federal tax code offers several strategies to help offset the many costs associated with owning and maintaining a commercial property. One of these strategies is Cost Segregation, which allows building owners to reduce their tax burdens and boost cash flow through accelerated depreciation deductions. Wondering if you are eligible for [...]
By reclassifying certain real property assets as personal property, Cost Segregation studies offer a powerful way for commercial building owners to unlock depreciation deductions—thereby reducing their tax burdens and boosting cash flow. However, following sweeping changes under the Tax Cuts and Jobs Act of 2017, Cost Segregation may be more beneficial than ever before due [...]