Tax Warrior Chronicles

Seize the Day: There’s Never Been a Better Time to Consider Cost Segregation

Posted on Wed, Jun 17, 2020

Everyone wants to maximize tax savings on their commercial real estate, and while Cost Segregation Studies have long been a solid IRS-approved strategy, these days they are more popular than ever, especially with some of the changes under the CARES Act,Today’s guest blogger, Terri S. Johnson of Capstan Tax Strategies, is here to explain why “cost seg” studies are all the rage, and to walk us through the top-three prime cost segregation scenarios.    

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Estate Planning During the COVID-19 Pandemic

Posted on Thu, Jun 04, 2020

Although it may seem counterintuitive, the current economic conditions brought on by the COVID-19 global pandemic, including down markets and reduced interest rates, provide estate planning opportunities many individuals may want to consider as part of their overall estate plan.

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Opportunities to Increase Cash Flow from 2018–2020 Business Losses

Posted on Wed, Apr 22, 2020

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provides relief to taxpayers with net operating losses (“NOLs”) and excess business losses (“EBLs”) arising in taxable years 2018 to 2020.  The IRS recently issued guidance related to the new NOLs rules under the CARES Act, which are favorable to taxpayers seeking such relief.

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CARES Act Offers Relief for TCJA Interest Expense Limitations

Posted on Thu, Apr 09, 2020

As part of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), Congress provided temporary relief for individuals and businesses by adjusting interest expense limitations under Internal Revenue Code 163(j).  Today, we summarize those changes.

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Depreciation Changes Under CARES Act - Qualified Improvement Property

Posted on Tue, Mar 31, 2020

Taxpayers and practitioners nationwide have been waiting over 2 years for a technical correction to fix an error in the 2017 Tax Cuts & Jobs Act (TCJA) related to depreciation of Qualified Improvement Property (QIP).  The error was finally fixed in the recently enacted Coronavirus Aid, Relief and Economic Security Act (CARES Act), and the change has created significant tax-reduction opportunities for some taxpayers.

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Partnerships – What’s New for 2019?

Posted on Mon, Feb 24, 2020

The Tax Cuts and Jobs Act (TCJA) threw tax practitioners nationwide for a loop last year, especially relating to partnership taxation.  While we now have one TCJA tax season under our belts, partnership taxation continues to be complex and there are additional changes for 2019 of which to be aware.  

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7 Tax-Saving Stocking Stuffers for Year-End 2019

Posted on Tue, Dec 10, 2019

By: Rosie Flite

 

As 2019 winds down, the upcoming Holidays are at the forefront of everyone’s mind. Between planning gifts, meals, and travel arrangements, many forget the importance of year-end tax planning.  With that in mind, we offer seven (7) strategies that may save everyone money when April 15th comes around in 2020.

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Top 5 Blogs of the 2019 Tax Season

Posted on Mon, Oct 28, 2019

By: Eric R. Elmore

 

The 2019 tax filing season has finally concluded, and not a moment too soon.  Americans filed the first full year of income under the Tax Cuts and Jobs Act of 2017 (“TCJA”), the most sweeping revamp of the tax code in more than 30 years. Today’s post is a snapshot of the blogs that were most read by our subscribers over the course of the filing season. It’s a good indication of what was on the minds of our readers while filing their returns. Did any of these play out in your tax planning?

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TCJA: What it Said vs. What it Did

Posted on Mon, Jul 22, 2019

By: Joe Brunell, CPA

 

The Tax Cuts and Jobs Act of 2017 (TCJA) is the most significant tax code overhaul since the Tax Reform Act of 1986.  The TCJA had four goals; tax relief for middle-income families, simplification for individuals, economic growth and repatriation of oversea income.   It cut individual income tax rates, doubled the standard deduction, eliminated personal exemptions and capped state and local itemized deductions.  While on the surface tax compliance now sounds simpler, as you will see, this isn’t the case.

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Introducing  - Tax Warrior Vlog

Posted on Wed, Jun 12, 2019

Chris Catarino shares insights on what we learned after the first full year of the Tax Cuts & Jobs Act.

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