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Notice 2023-63: Yes, You Have to Amortize Sec. 174 Expenses
On Friday September 8th, the IRS released long-awaited guidance addressing the mandatory amortization of Section 174 expenses. It isn’t the news we were hoping for. Notice 2023-63, discusses the scope of Section 174 at length, clarifying the nature of qualifying...
Safe Harbors in a Storm: TPR Expensing Options
Introduction Effective January 1st, 2014, the Tangible Property Regulations (TPRs) might feel like yesterday’s news. The TPRs guide taxpayers through an important real estate decision making process – can the cost of an asset be expensed? Or must it be...
Sec. 174 Amortization Update
With Legislation Building Support, What Should Taxpayers Do NOW?Introduction Everyone's asking — Will mandatory Sec. 174 amortization be repealed? Business owners, the scientific community, and tax professionals all hope the answer is yes, but there is still a way to...
How to Calculate the Federal R&D Tax Credit
The Federal Research and Development (R&D) Tax Credit is an activities-based tax credit for companies that that incur R&D expenses in the United States. Eligible taxpayers may claim qualifying expenses – wages, supplies, contract research, cloud hosting –...
Behind the Scenes with Aileen Gullotti
Welcome to a new monthly feature in which we go behind “Behind the Scenes” to learn more about a member of the Capstan team. If you’d like to see someone specific featured, let us know! Aileen has many aliases around the office – she’s the “Salesforce Queen” and...
Behind the Scenes with Gina Spinosa
Welcome to a new monthly feature in which we go behind “Behind the Scenes” to learn more about a member of the Capstan team. If you’d like to see someone specific featured, let us know! As a key member of the Client Success Team, Gina works hard to make every...
Your Top 10 Cost Segregation Questions: Answered
We talk about Cost Segregation a lot. And we find that the same questions come up time and time again. Here’s a compilation of answers to your most common queries – plus links to additional Capstan resources for learning more. 1. What Exactly is a Cost...
How to Determine R&D Tax Credit Eligibility: 4 Part Test
Takeaways Since the R&D Tax Credit is activities-based, eligibility is determined by testing the research activities a company performs. In order to qualify for the Credit, a research activity must pass all four parts of the Four-Part Test: Part #1: The research...
How to Claim the R&D Tax Credit
Key Takeaways The activities-based Federal R&D Tax Credit allows qualified businesses to obtain a dollar-for-dollar reduction in tax liability. Qualifying activities include the development or improvement of products, processes, software, formulas, and more....
TY 2022 Checklist: Real Estate Tax Incentives and Strategies
The wide variety of real estate tax opportunities available can be overwhelming. To make sure you’ve considered all potential sources of benefit, review our expansive checklist. ☐ Accelerated Depreciation Look-back studies via 3115, best results achieved for...
Welcome to the Newest Members of the Capstan Team!
Our people are what make Capstan great. As such, welcoming a new team member is always a cause for celebration. This month we’d like to introduce two wonderful new hires: Project Engineer: Maikel brings years of cost segregation experience to the table, along with...
TCJA – Tax Cuts and Jobs Act (H.R.1) of 2017
The Tax Cuts and Jobs Act was signed into law on December 22, 2017. This marked the first comprehensive tax law reform since 1986, and has had an impact on every American taxpayer and industry. The TCJA brings new opportunities, as well as some challenges, to the...
Cost Segregation and Multifamily Property: Busting the Myths
In J.P. Morgan’s 2023 Commercial Real Estate Outlook, multifamily property is designated as the highest performing of all asset classes. A recent study commissioned by the National Multifamily Housing Council and National Apartment Association revealed that the U.S....
Rev. Proc. 2023-11 and the Mandatory Amortization of Section 174 Expenses: What CPAs Must Know
Summary 174 Research and Experimentation (“R&E”) Expenses paid or incurred in taxable years beginning after 12/31/2021 cannot be immediately deducted. They must be amortized over 5 years, or 15 years in the case of foreign R&E. There are several implications...
Behind the Scenes with Isaac Downing
Welcome to a new monthly feature in which we go behind “Behind the Scenes” to learn more about a member of the Capstan team. If you’d like to see someone specific featured, let us know! Isaac Downing is a big personality. His booming voice, bright smile, and...
10 Big Questions to Maximize Tax Savings in TY 2022
There are real estate tax savings strategies old and new in play for 2022. The variety of incentives available makes thoughtful and comprehensive tax planning more important than ever. To ensure that no opportunity is overlooked, ask yourself – or your clients –...
Industry Alert: Announcement 2023-01 Clarifies ASHRAE Reference Standards for §179D
The Inflation Reduction Act (IRA) of 2022 brought many changes to the §179D Energy Efficient Commercial Building Tax Deduction. Provisions taking effect 1/1/2023 will impact the maximum potential deduction, the minimum efficiency threshold required to qualify, and...
Behind the Scenes with Carly Coker
Welcome to a new monthly feature in which we go behind “Behind the Scenes” to learn more about a member of the Capstan team. If you’d like to see someone specific featured, let us know! Carly Coker studied Chemical Engineering, but wanted more variety and social...
Industry Alert: Notice 2022-61 Clarifies Prevailing Wage and Apprenticeship Requirements Under the IRA
On November 30, 2022, the IRS issued Notice 2022-61, providing initial guidance on the wage and apprenticeship requirements included in the Inflation Reduction Act of 2022. The IRA established increased benefit levels for energy-efficient incentives related to EPAct...
Top 10 Things You MUST Know Before Diving into TY 2022
It’s almost New Year’s Eve! Time to make resolutions, sing auld lang syne, and of course, finish your prep for TY 2022. To make that last one a little easier, we’ve compiled a list of the Top 10 Things You Must Know for TY 2022. It’s packed with links to our most...
Services for CPAs
In the face of growing tax code complexity, it’s almost impossible to cover every area with in-house resources. For expertise in understanding and applying the myriad of complexities with the Tangible Property regulations and other IRS Code impacting commercial real estate, turn to Capstan Tax Strategies.
Services for Business Owners
Accelerating depreciation has long been a strategy employed by real estate owners to take advantage of immediate tax savings. The Tangible Property Regulations and the recent Tax Cuts and Jobs Act has created significant opportunities that elevate the many uses of Cost Segregation Studies. Learn how Capstan can help.
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You don’t have to be overwhelmed with Tangible Property and other Fixed Asset Regulations. We help you maximize your tax savings so you can focus on the core of your business.
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