When it comes to real estate and asset management, accurately classifying property types is crucial for compliance and taxation.

Qualified Improvement Property (QIP) is an important tax category that affects how businesses handle the depreciation of certain...

A depreciation schedule is a comprehensive accounting record that monitors the gradual decline in value of an asset throughout its useful...

I've put together a detailed guide that covers 1031 exchanges and how they can be effectively paired with cost segregation . Let me...

What is Form 3115? Businesses need IRS approval to change their accounting methods to ensure consistency and fairness in tax reporting....

The 45L Energy Tax Credit is a federal incentive designed to promote energy-efficient residential construction.

Meet Sharron, a successful business owner who recently decided to sell two major assets from her manufacturing company: a commercial...

IRS Publication 946, "How to Depreciate Property," is a comprehensive tax document that explains how businesses and individuals can...

The 179D tax deduction, also known as the Energy-Efficient Commercial Buildings Deduction , is a section of the tax code designed to...

In tax accounting, recapture is the process of adjusting taxable income higher due to certain deductions made in the previous period. A...

Think of estate planning as creating a detailed instruction manual for your loved ones about your wishes and assets. Just as you might...

When you invest in a long-term rental property, you're not just purchasing a building, you're acquiring a complex asset.

If you've recently started hosting on Airbnb, you might be surprised to learn about a powerful tax strategy called a cost segregation study

A CPA (Certified Public Accountant) is a licensed financial professional who helps people and businesses with their money, taxes, and...

Depreciation is a way to account for how buildings and property wear down over time. Think of it like how a car loses value as it gets...

Picking a cost segregation firm is like choosing a dentist. Just like you want to trust your dentist to take care of your teeth, you want...