Capstan Live Podcast

The Capstan Tax Strategies team is known for cutting-edge industry insight, technical precision, and of course, our great personalities. “Capstan Live” delivers more of the same – straight to you! We’ll take on hot topics, real estate trends, and legislative updates with a focus on sharing the timely, straightforward, actionable information that you and your clients need. If you own real estate or advise someone who does, tune in to “Capstan Live.” Our strength, your tax savings – live!

Latest Podcasts

July 2024

Utility rebates may be the energy world’s best kept secret. Thousands of incentives benefit property owners who install energy-efficient equipment like LED lighting, HVAC systems, EV (electrical vehicle) chargers and more.

Leendert Enthoven, founder of BriteSwitch (, is here to give us a primer on this little-known opportunity, explaining:

  1. Why utilities are willing to “give money away”
  2. How he created a rebate database to help identify, maximize, and capture rebates for energy-efficiency products
  3. The future of the rebate industry in a world turning to electrification
  4. How multifamily property owners can strategically leverage rebates to offset the costs of installing equipment, especially the uber-popular EV charging station

If you’d like to learn more about benefiting from utility rebates, Leendert ( is the man to see.

May 17, 2024

Angie Grissom, MBA, has been consistently named one of the Top 100 Most Influential People in Accounting for the last decade. She’s an author, a speaker, a coach, and a visionary who believes in people. One thing she’s not? An accountant. Listen in as Angie discusses:

  1. How she paved her own path (and how you can too!)
  2. The importance of firm culture in employee retention
  3. Why change management and partner accountability are key to growing your firm
  4. The crucial mindset shift from the transactional approach to the relational approach

If you want to grow your firm, retain your talent, and enjoy your work — this is an episode not to be missed.  

To learn more about Angie and The Rainmaker Companies, visit  Angie can be reached at


Beyond the Spreadsheet with George Burchlaw, MBA

April 19, 2024

Having worked in real estate for decades, George Burchlaw noticed that regardless of size, real estate investment firms seemed to be drowning in data. He realized that firms needed a software platform more nuanced and customizable than a simple Excel spreadsheet, but that they also needed a partner to organize and analyze data on that mythical platform. RE Analytics was born, and George never looked back.


Beyond the Spreadsheet with Ashley Northcutt

March 6, 2024

Ashley Northcutt is one of the most fascinating and accomplished women we know. Her personal transformation is inspiring — Ashley left a high-powered position in tax to launch the non-profit Women’s Affordable Housing Network. Ashley goes to bat each and every day for women working in affordable housing and women living in affordable housing. It’s only fitting that this episode of Beyond the Spreadsheet releases on International Women’s Day — Ashley and her team are making a genuine difference in the lives of women.


Beyond the Spreadsheet with Greg Kyte

February 16, 2024

Greg Kyte is known as “The Comedy CPA” — and we’re not kidding. On this episode, Greg talks about the therapeutic effects of finding the humor in our industry. Greg is the author and illustrator of Exposure Drafts Cartoons (, a hilarious single-panel comic that satirizes the daily absurdity. He’s also the co-host of Oh My Fraud, a “true crime podcast for accountants” that will have you laughing and learning ( Did we mention you can even get CPE credit if you listen through the Earmark App (

You can reach the man, the myth, the comedy legend at PLUS — we’ll be showcasing his inimitable style in a Capstan University webinar this May! Stay tuned…

January 19, 2024

Welcome to Beyond the Spreadsheet, a special podcast series from Capstan Live. Our goal is to spark authentic conversation about our industry, and we’ve invited some of the smartest, most influential people we know to join us.

Our first guest, Jenny Massey, CRE, is Director of Site Selection and Business Incentives at Sikich LLP. She’s also an archaeologist by training, spent 7 years living and working in Japan, and is an accomplished beekeeper (!). Join us for 20 minutes with the fascinating Jenny Massey as we discuss:

  1. The purpose of site selection
  2. How local and state business incentives offset expansion costs
  3. Which activities should trigger a consultation with a site selection/business incentives professional
  4. How success in claiming incentives is all about pitching the right story to the right audience

If you’re an owner growing your business — or a CPA that advises one — this is a must-listen.

If you’d like to consult with Jenny, feel free to reach out to her at


Special Episode: Year End Top Ten!

December 18, 2023

It’s the Third Annual Year End Top 10 Podcast, where multiple Capstan stars come out to shine! Join Bruce, Terri, Ziv, and Jacob as they run through this year’s must-knows, while sharing a few laughs and some good-natured banter. Unsurprisingly, IRA-related topics take 3 up three spots on this year’s list, and even edge out Mandatory Amortization of Sec. 174 Expenses for the coveted top spot. Want to get the scoop on the entire Top 10? Give us a listen — you’ll be glad you did.


One Year Since the IRA: Where Do We Stand?

November 15, 2023

It’s been almost a year since IRA provisions took effect back in January, and there are still a lot of unanswered questions. Capstan Partner Bruce Johnson returns to the pod to share industry insights including:

  1. Why the maximum benefit may be out of reach for many developers
  2. How contractors are feeling about Prevailing Wage/Apprenticeship Requirements
  3. The silver lining of deduction reset
  4. A huge change in the 45L Credit process

Take a half hour with Bruce to clarify what we’ve learned — and what we still need to learn.


Short Takes: Triple Net Lease Properties

July 18, 2023

Focus on the Market: Short Takes on NNN Properties

Bruce Johnson returns to the podcast to discuss triple-net-lease, or “NNN” properties.

  1. What makes them such attractive investments?
  2. Why are they great cost seg candidates?
  3. What makes retail pharmacies and quick-serve restaurants particularly asset-rich?
  4. Will Bruce be persuaded to invest in a Dunkin’ Donuts franchise?

All these questions and more will be answered in a tight 15 minutes.


Hot Industries for R&D: Manufacturing and Custom Product Design

June 16, 2023

The R&D Tax Credit was initially created with manufacturers in mind, and today manufacturers claim 70% of all R&D Tax Credits. Jacob Wood, JD, returns to the Pod to explain:

1. What types of manufacturers can qualify

2. Potential scope of savings

3. The taxpayer-friendly implications of the “Substantially All” rule

4. Why a company’s problem-solvers are key to claiming the credit


Hot R&D Industries: Food and Beverage

May 10, 2023

Commercial food and beverage production is all about innovation, making it a great source of R&D Tax Credits. Capstan Regional Director Jacob Wood ( returns to the pod to give us the (ice cream) scoop on R&D in Food and Bev:

  1. Qualifying activities throughout the supply chain — from formulations, to scaling up, certification testing, packaging, and more
  2. The finer points of R&D in breweries, wineries, and distilleries
  3. Unique challenges in the frozen food industry that present R&D opportunity
  4. Real life examples that explore the scope of savings possible

Don’t listen while you’re hungry, but do listen.


Hot R&D Industries: Software Development

April 17, 2023

Software is everywhere. And the constant innovation and improvement involved in software development makes it a perfect industry for R&D Tax Credits.

Join Regional Director Jacob Wood ( as he discusses:

  1. Which activities apply for the R&D Tax Credits
  2. The nuances of internal-use software
  3. What kind of savings software companies can expect
  4. The modified credit for small software startups
  5. Suggested documentation software firms should have available
  6. Next steps for learning more 

A great listen for software developers, CFOs, and CPAs!


Short Takes: Multifamily Property

March 17, 2023

Our new Short Takes series provides brief but thoughtful topic overviews — perfect for those times you just need a high-level view.

This month Bruce Johnson talks about:

  1. What makes multifamily facilities such great cost seg candidates
  2. How the IRA is changing the game for MF owners/developers
  3. Why MF remains a huge vertical amid current affordability challenges

And lots more, in just 15 minutes.


The Mandatory Amortization of Section 174 Expenses: What CPAs Must Know Episode 21

February 17, 2023

Capstan R&D Tax Credit experts Lindsey King and Carly Coker return to the pod to discuss the implications of Sec. 174 amortization.

  1. Interplay Between Sec. 174 and Sec. 41
  2. The Way We Were (i.e. Sec. 174 treatment before TY 2022)
  3. The Current Situation
  4. Rev. Proc. 2023-11 and What Makes it Taxpayer-Friendly
  5. The Impact of Mandatory Amortization
  6. What the IRS Will Be Looking For
  7. The R&D Tax Credit as a Mitigating Factor



Short Takes: Self-Storage Facilities

January 16, 2023

Our new Short Takes series provides brief but thoughtful topic overviews — perfect for those times you just need a high-level view. This month Bruce Johnson talks about:

  1. What makes self-storage facilities such great cost seg candidates
  2. How expected yield may vary in urban v. suburban projects
  3. The repositioning phenomenon

And lots more, in less than 15 minutes.


Our Second Annual Year End Top 10

December 19, 2022

Join us for an action-packed discussion of the Top Ten Things You MUST Know for TY 2022 in this special episode of Capstan Live! Terri Johnson, Bruce Johnson, and Ziv Carmel return to the pod for an all-star roundtable, reviewing a year’s worth of headlines, strategies, and analysis. Plus, special guest Jacob Wood cameos to talk about the latest R&D Tax Credit news. If you only listen to one episode of Capstan Live!, make it this one.

October 17, 2022

The IRA is bringing sweeping changes to EPAct 179D and 45L. Bruce Johnson — our resident energy expert — returns to the pod. He’ll walk us through what’s already changed, what will change next year, what isn’t changing, and what it all means. All the info and analysis you need to fully leverage the IRA in 2023 — don’t miss Capstan’s take on this groundbreaking legislation.


R&D Credits Then and Now: What the Inflation Reduction Act Means for You

September 13, 2022

The R&D Tax Credit has come a long way, baby! Join Capstan Regional Director Jacob Wood as he traces the evolution of the Credit from its humble origin to the amplified and expansive Credit we enjoy today. Jacob will touch on the implications of all relevant legislation and will share the actionable info you need to take advantage of the Inflation Reduction Act’s new R&D provisions.


Say Hello to 45L

July 20, 2022

While EPAct 179D gets a lot of attention, 45L is often considered an “afterthought.” However, this oft overlooked credit packs a powerful punch, and is worthy of a podcast all its own. Join Terri Johnson as she digs into the details of this lucrative incentive and delivers the scoop on a timely strategy for 9/15.


Stepping Out with 754 Step-Ups

June 20, 2022

The 754 step-up is notoriously complicated, and it’s easy to overlook the inherent cost seg potential while dealing with all the moving parts. Consider this episode your official reminder that the new basis and service date seen in a step-up may tee up an excellent cost seg opportunity. Capstan Partner Bruce Johnson walks us through the details, shares a few caveats, and allows Helena to finally share her original work, “Lucy and Ethel Buy a Chocolate Factory: A Section 754 Story.”


Tax Season is Over… Take a BREATH…

May 19, 2022

We are truly honored to welcome Rob Ord, Vice President of Operations for Unbeatable Mind. Having spent 16 years as a Navy Seal, Rob now brings the elite mental discipline of the military to corporate leaders, athletes, and anyone seeking self-refinement. By helping people unlock new levels of potential and self-mastery, Rob helps companies reach new heights of success. Join Rob as he guides Terri Johnson on a journey of mindfulness, balance, and the very science of breath. It might just be the most important podcast you ever hear.

May 16, 2022

Welcome Lindsey King and Carly Coker to the Pod! As part of Capstan’s R&D Tax Credits Division, Carly and Lindsey have successfully captured hundreds of R&D Tax Credits in a plethora of industries. They’ll walk us through the R&D Credit study process, review eligibility criteria, and explain exactly what constitutes a qualified research expense. Lots of real-life industries will be represented, including some that you didn’t see coming – breweries?! — and Lindsey and Carly will even share a few tricks of their trade.


April 18, 2022

In this episode, we do a deep dive into Qualified Improvement Property. This lucrative incentive packs a punch, but alas, all improvements do not fall under the QIP umbrella. Join Capstan Partner Bruce Johnson as he pulls apart the tax code definition, breaking it down to determine exactly what is – and what is not – considered QIP. If you deal with a lot of renovations, this episode is a must-listen!


March 23, 2022

Unless something changes on Capitol Hill, the golden days of 100% bonus depreciation are numbered. What’s a taxpayer to do? Could Section 179 Expensing help fill the void? Join Capstan Partner Bruce Johnson as we compare these strategies, speculate on the use of Section 179 moving forward, and address state limits on this federal incentive. We also discuss a strategic hierarchy of expensing, talk through a few examples, and quibble over the correct pronunciation of “hierarchy.” (Spoiler – no consensus is reached.)


March 3, 2022

Low inventory, high profit margins, and the LIFO method of accounting have resulted in a higher taxable income for many.  Why wait for the Treasury to provide relief under Section 473?  Special guest and industry giant Will De Filipps, CPA, PC, suggests that a far better strategy for avoiding additional tax burden is to take advantage of a beneficial provision already in the Regulations.  Adopting this strategy can be achieved without advance permission from the IRS by complying with the Regulations and filing Form 3115.  But time is of the essence.

Join Terri S. Johnson and Will De Filipps, CPA, PC for a fascinating discussion of what just might be a late-breaking game changer.

February 8, 2022

Capstan’s Director of Engineering Ziv Carmel makes a triumphant return to the pod! Many auto dealers are turning to cost seg to offset pandemic-related cash flow issues. Join us as Ziv explains why auto dealerships make such great candidates for cost segregation studies and what kind of first year tax savings are possible. As an engineer with decades of industry savvy, Ziv brings a unique perspective to the pod that is not to be missed.

January 10, 2022

Tax is season is here but have no fear!   This special episode of Capstan Live! will get you up to speed with an action-packed discussion of the Top Ten Things You MUST Know for TY 2021. Terri Johnson, Bruce Johnson, and Ziv Carmel return to the pod for an all-star round-table, reviewing a year’s worth of headlines, strategies, and analysis in a tight 40 minutes.  If you only listen to one episode, make it this one!

November 18, 2021

Capstan Partner Bruce Johnson joins us for to discuss these great tax strategies and to weigh in on what food-related simile would best describe their use in tandem. PLUS – new final regs redefine what can be considered “Real Property” for the purposes of a 1031 Exchange. Bruce has the scoop on this breaking news, and explains why it’s a win!


What’s So Great About the TPRs?

October 29, 2021

What’s So Great About the TPRs? Join Capstan Partner Terri S. Johnson as she sings the praises of the Tangible Property Regulations.   Terri’s attitude is contagious, and you’ll find yourself excited about expensing options, enthused about the BAR and Materiality Tests, and positively over the moon about Partial Asset Disposition.  And the best thing about the TPRs?  They play very nicely with other tax strategies… 


Depreciation and the Non-Profit Tenant:  What’s the Scoop? 

October 7, 2021

On this episode we tackle a complicated subject – how should owners treat tax-exempt use property regarding depreciation?  A topic this tricky calls for a very special guest, and we are honored to welcome Brian O’Sullivan, CPA, CVA, of the LG Legacy Group, LLC! Brian brings his signature wit and wisdom to the pod, guiding us through an analysis of the MACRS vs ADS decision process for both tax-exempt tangible personal property and non-residential real estate. PLUS, download our all-new Capstan tool – our ADS Flowchart for Tax-Exempt Use Property.



Green is the New Black

August 19, 2021

It IS easy being green now that the EPAct 179D tax deduction has been permanently extended! And another year of 45L tax credits is just icing on the cake…  Join Bruce Johnson, Founding Partner, as he talks us through the subtleties of these energy-efficient real estate tax incentives, touching on eligibility, scope of savings, and study logistics.



Multifamily Matters

August 12, 2021

Founding Partner Bruce Johnson is back on Capstan Live, discussing the evergreen nature of multifamily property. Why do investors continue to flock to the multifamily sector?  How has recent legislation enhanced the potential tax savings on these properties?   And what is Bruce’s personal favorite tax strategy?  All will be revealed in this episode of Capstan Live.



The Life Cycle of Real Estate

August 5, 2021

Capstan Managing Partner Terri S. Johnson, CRE, takes us on a lively walk through the Life Cycle of Real Estate. We’ll discuss the utility of cost segregation at each stage of the cycle and highlight planning notes that can put the thoughtful investor ahead of the game.  Plus, request a copy of our new infographic called – surprise! – The Life Cycle of Real Estate. 


The tax code keeps evolving, and it can be hard to get to the bottom line. We cut through the noise and deliver the information you need.

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.

Schedule a Call with Us Today

Getting started is simple. Whether you’re an accounting firm or own/lease commercial real estate, contact Capstan for a free consultation. We will assess your needs.