by Capstan Tax Strategies | Jun 23, 2020 | Capstan News
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...
by Capstan Tax Strategies | Apr 22, 2020 | Capstan News
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...
by Capstan Tax Strategies | Apr 14, 2020 | Capstan News, COVID-19
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...
by Capstan Tax Strategies | Apr 10, 2020 | Capstan News, COVID-19
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 In many cases, guidance given just the day before is quickly out of date.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...
by Capstan Tax Strategies | Apr 7, 2020 | Capstan News, COVID-19
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...
by Capstan Tax Strategies | Mar 30, 2020 | Capstan News, COVID-19
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...
