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VUCA and Capstan 2020
Here we are. It’s mid-July. The challenges of the last few months have kept everyone busy, and somehow time continues to march on. Those challenges have come in many forms. We’ve faced some as individuals, some as companies, and some as a nation. Many have been...
Capstan Launches New Website
We strive to make things easy for you, and pride ourselves on making the Capstan experience a seamless one. As part of this commitment, we’ve redesigned our website so that navigation is logical and intuitive. The layout is vibrant yet uncluttered, fluid and...
New Proposed 1031 Regulations – Defining “Real Property” in an Exchange
On Friday, June 12, 2020, the IRS issued a new proposed regulation (NPRM REG-117589-18) intent on clarifying the TCJA’s 1031 rules regarding how to deal with personal property (section 1245) that is inherently part of every real property transaction for tax purposes....
Rev. Proc. 2020-22 Permits Revocation of Elections-Out-of-163(j) and Allows for New Late Elections-Out-of-163(j)
On Friday April 10th, the IRS released Rev. Proc 2022-22, which permits revocations of elections-out-of-163(j) made on 2018 or 2019 tax returns and allows late elections-out-of-163(j) back to 2018, if a taxpayer chooses. It also allows BBA partnerships to file...
Rev. Proc. 2020-25: You Asked, the IRS Answered
Clarification on the CARES Act continues to enlighten us on an almost daily basis. Qualified Improvement Property (QIP) placed-in-service after 12/31/2017 is now considered to have a recovery period of 15-year and is bonus-eligible. Taxpayers may retroactively change...
BBA Partnerships Can File Amended Returns: Receive CARES Act Benefits
In these uncertain and unprecedented times dealing with the international pandemic COVID-19, one thing that we are seeing for certain are rapid changes and updates. In many cases, guidance given just the day before is quickly out of date. On April 7th, Capstan...
How to Implement QIP under the CARES Act: Amended Return or Form 3115?
You’ve probably heard the news – the long-awaited technical correction of Qualified Improvement Property (QIP) status has arrived via the CARES Act. The legislation assigns QIP placed-in-service on or after 1/1/2018 a recovery period of 15-years, making it eligible...
CARES Act Ushers in Much Needed Relief – And Fixes the QIP “Glitch”
On Friday March 27th the President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law. This $2 trillion dollar stimulus bill will provide relief to individuals, businesses, and state and local governments, and will bolster an economy...
Revisiting 2018 Projects for Additional Deductions
You might have heard that the so-called “Energy Incentives” were recently reestablished. This change in legislation may qualify you for an additional tax deduction on certain 2018 projects. The President signed the Further Consolidated Appropriations Act into law on...
Masterpiece in the Air: A Luxury Treehouse Designed by Pete Nelson
In nearly 20 years as a Cost Segregation Professional, Capstan’s Ziv Carmel thought he’d seen it all. He was wrong. This fall, Ziv journeyed to scenic Norway, Maine, to explore The Woods Maine, a high-end custom treehouse that combines bespoke and bucolic with...
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.
Stay Focused
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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Capstan Tax Strategies
101 West Avenue, Suite 301
Jenkintown, PA 19046
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215-885-7510
info@capstantax.com